Energy giant ExxonMobil Corporation (NYSE: XOM) reported a profit for the second quarter of 2021, compared to a loss last year, even as operating conditions continued to improve. The results also topped estimates.
Second-quarter adjusted earnings came in at $1.10 per share, compared to a loss of $0.7 per share in the same period of last year. The reported profit was $4.7 billion or $1.10 per share, compared to a loss of $1.10 billion or $0.26 per share in the second quarter of 2020.
The positive bottom-line performance reflects strong revenue performance, which more than doubled year-over-year to $67.7 billion and exceeded experts’ predictions.
XOM shares were up 1% on Friday morning immediately following the announcement. The stock had closed the previous session higher.
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