Energy giant ExxonMobil Corporation (NYSE: XOM) on Friday announced financial results for the second quarter of 2023, reporting a sharp fall in net profit and revenues.
Total revenues and other income declined 28% to $82.9 billion in the June quarter from $115.7 billion in the same period of 2022. The results were adversely impacted by lower natural gas realizations and industry refining margins.
Net income attributable to ExxonMobil was $7.88 billion, or $1.94 per share, which is sharply lower than the $17.85 billion or $4.21 per-share profit reported last year. Adjusted earnings dropped 53% annually to $1.94 per share.
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