ExxonMobil (NYSE: XOM) reported Q2 EPS of $0.41, $0.23 worse than the analyst estimate of $0.64. Revenue was $57.69 billion, compared with the consensus of $60.41 billion.

Production was 3.96 million BOE/D versus estimate of 4.1 million BOE/D.

“While our financial results reflect a volatile industry environment, ExxonMobil remains focused on business fundamentals, cost discipline and advancing selective new investments across the value chain to extend our competitive advantage,” said Rex W. Tillerson, chairman and chief executive officer. “The corporation benefits from scale and integration, which provide the financial flexibility to invest in attractive opportunities and grow long-term shareholder value.”

During the second quarter, Upstream earnings were $294 million. Production volumes were essentially unchanged at 4 million oil-equivalent barrels per day. Liquids production growth from recent start-ups more than offset the impact of field decline and downtime events, notably in Canada and Nigeria.

Chemical earnings remained strong at $1.2 billion, reflecting continued benefits from gas and liquids cracking as well as growing product demand. The Downstream segment earned $825 million despite significantly lower global refining margins versus the prior year quarter.

Capital and exploration expenses were reduced by 38 percent to $5.2 billion.

For earnings history and earnings-related data on ExxonMobil (XOM) click here.