Traders Selling Exxon (XOM) Shares Amid Rare Earnings Miss
Tweet
Share
E-mail
Get Alerts XOM Hot Sheet
Price: $138.88 +1.03%
EPS Growth %: +123.2%
Financial Fact:
Selling, general and administrative expenses: 2.74B
Today's EPS Names:
CCEL, FEIM, PLG, More
EPS Growth %: +123.2%
Financial Fact:
Selling, general and administrative expenses: 2.74B
Today's EPS Names:
CCEL, FEIM, PLG, More
Join SI Premium – FREE
Shares of Exxon Mobil (NYSE: XOM) are down nearly 2 percent in pre-market trade Thursday following a rare earnings miss. Check out data from our Earnings History section for more data on this.
The world's largest company by market cap posted a second-quarter profit of $10.68 billion, up a very sharp 41 percent from the $7.56 billion reported during the same quarter last year. Net income was incrementally higher versus the $10.65 billion issued during the first quarter of 2011.
Earnings per share came in at $2.18, up 36 percent compared to the year-ago quarter, but worse than the $2.33 the Street was expecting.
Exxon said Upstream earnings totaled $8.541 billion, Downstream earnings were $1.356 billion, and earnings from the Chemical division were $1.321 billion.
The company saw net revenue of $125.49 billion, up more than 36 percent from the $92.49 billion reported last year. Exxon issued sales of $114 billion during the first quarter of this year. Analysts had been expecting sales of $121.4 billion.
Chairman Rex Tillerson said, "ExxonMobil recorded strong results during the second quarter of 2011, while investing at a record level of over $10 billion to develop new supplies of energy to meet growing world demand."
Thursday’s flub and the resulting decline in the stock price has Exxon’s market cap down a quick $9 billion.
The world's largest company by market cap posted a second-quarter profit of $10.68 billion, up a very sharp 41 percent from the $7.56 billion reported during the same quarter last year. Net income was incrementally higher versus the $10.65 billion issued during the first quarter of 2011.
Earnings per share came in at $2.18, up 36 percent compared to the year-ago quarter, but worse than the $2.33 the Street was expecting.
Exxon said Upstream earnings totaled $8.541 billion, Downstream earnings were $1.356 billion, and earnings from the Chemical division were $1.321 billion.
The company saw net revenue of $125.49 billion, up more than 36 percent from the $92.49 billion reported last year. Exxon issued sales of $114 billion during the first quarter of this year. Analysts had been expecting sales of $121.4 billion.
Chairman Rex Tillerson said, "ExxonMobil recorded strong results during the second quarter of 2011, while investing at a record level of over $10 billion to develop new supplies of energy to meet growing world demand."
Thursday’s flub and the resulting decline in the stock price has Exxon’s market cap down a quick $9 billion.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Baird on Nurix (NRIX) Earnings Amid 7% Drop: '2Q Print Solid as Breadth of Development Expands'
- Raymond James Previews Charles Schwab Corp. (SCHW) Earnings: 'Elevated Trading Volumes Drives Trading Revenue Upside'
- Benchmark Reiterates Buy Rating on Penske Automotive Group (PAG)
Create E-mail Alert Related Categories
Earnings, Insiders' BlogRelated Entities
EarningsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
