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Exxon Mobil swings to loss in Q4

Exxon Mobil Corp. said its fourth-quarter normalized net income was a loss of 24 cents per share, compared with the S&P Capital IQ consensus estimate of 70 cents per share.

The per-share result swung to a loss from the prior-year profit of 35 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $1.01 billion, compared with income of $1.46 billion in the year-earlier period.

The normalized profit margin dropped to negative 1.9% from 2.8% in the year-earlier period.

Total revenue grew year over year to $52.97 billion from $52.32 billion, and total operating expenses rose 5.9% year over year to $54.80 billion from $51.75 billion.

Reported net income fell 39.6% from the prior-year period to $1.68 billion, or 40 cents per share, from $2.78 billion, or 66 cents per share.

For the year, the company's normalized net income totaled 81 cents per share, compared with the S&P Capital IQ consensus normalized EPS estimate of $2.19.

EPS declined from $3.15 in the prior year.

Normalized net income was $3.39 billion, a decline from $13.21 billion in the prior year.

Full-year total revenue fell year over year to $197.52 billion from $236.81 billion, and total operating expenses decreased on an annual basis to $196.58 billion from $223.93 billion.

The company said reported net income decreased year over year to $7.84 billion, or $1.88 per share, in the full year, from $16.15 billion, or $3.85 per share.