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Exxon Mobil Q3 profit falls YOY

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Exxon Mobil Q3 profit falls YOY

Exxon Mobil Corp. said its normalized net income for the third quarter came to 82 cents per share, compared with the S&P Capital IQ consensus estimate of 90 cents per share.

EPS decreased 56.7% year over year from $1.90.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $3.45 billion, a decrease of 57.4% from $8.11 billion in the year-earlier period.

The normalized profit margin fell to 5.8% from 8.5% in the year-earlier period.

Total revenue decreased 37.4% year over year to $59.87 billion from $95.69 billion, and total operating expenses fell 35.3% year over year to $55.70 billion from $86.11 billion.

Reported net income fell 47.5% year over year to $4.24 billion, or $1.01 per share, from $8.07 billion, or $1.89 per share.