Categories AlphaGraphs, Earnings, Energy

XOM Earnings: ExxonMobil Q1 2023 profit jumps despite lower revenues

Energy giant ExxonMobil Corporation (NYSE: XOM) on Friday announced financial results for the first quarter of 2023, reporting strong growth in net profit and a modest decline in revenues.

ExxonMobil Q1 2023 earnings infographic

Total revenues and other income declined 4% to $86.56 billion in the March quarter from $90.5 billion in the same period of 2022. Oil and gas net production increased by nearly 300,000 oil-equivalent barrels per day from the prior-year quarter, excluding divestments, entitlements, and Sakhalin-1 expropriation.

Net income attributable to ExxonMobil was $11.4 billion, or $2.79 per share, which is sharply higher than the $5.48 billion or $1.28 per share reported last year. Adjusted earnings climbed 37% annually to $2.83 per share.

Prior Performance

  • ExxonMobil Q4 2022 earnings infographic
  • ExxonMobil-Q3-2022-Earnings-Infographic
  • ExxonMobil Q2 2022 earnings infographic
  • ExxonMobil Q1 2022 earnings infographic

Looking for more insights on the earnings results? Click here to access the full transcripts of the latest earnings conference calls!

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