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Exxon Mobil Q2 profit falls YOY

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Exxon Mobil Q2 profit falls YOY

Exxon Mobil Corp. said its second-quarter normalized net income was $1.02 per share, compared with the S&P Capital IQ consensus estimate of $1.11 per share.

EPS fell 48.6% year over year from $1.98.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $4.28 billion, a decrease of 49.7% from $8.51 billion in the year-earlier period.

The normalized profit margin dropped to 6.5% from 8.7% in the year-earlier period.

Total revenue declined 33.2% on an annual basis to $65.39 billion from $97.85 billion, and total operating expenses decreased 31.4% year over year to $61.11 billion from $89.12 billion.

Reported net income decreased 52.3% year over year to $4.19 billion, or 100 cents per share, from $8.78 billion, or $2.04 per share.