Exxon Mobil profit falls 16 per cent to $8.35 billion, revenue misses Wall Street expectations

This Feb. 27, 2012 photo shows gas prices at a Pittsburgh Exxon mini-mart. THE CANADIAN PRESS/AP, Gene J. Puskar

January 30, 2014 - 5:26 AM

Exxon Mobil's profit is down 16 per cent from last year as the company is producing slightly less oil and gas. But it's still making more than $8.3 billion in three months.

The company is earning less from producing oil and gas in the U.S. and overseas, and from its international refining and marketing business.

Exxon Mobil Corp. said Thursday that fourth-quarter net income was $8.35 billion, or $1.91 per share, matching Wall Street's forecast. That compares with profit of $9.95 billion, or $2.20 per share, a year earlier.

Revenue is down 3 per cent to $110.86 billion, below the $114.51 billion that analysts were expecting.

News from © The Associated Press, 2014

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