Exxon Earnings Decline 37.4%

Exxon Corp., the nation’s largest oil company, said today its first-quarter earnings fell 37.4% over the same period last year, reflecting the continuing impact of last year’s oil price collapse. Exxon said it earned $1.07 billion, or $1.50 a share, in the three months ending March 31, down from $1.71 billion, or $2.35 a share, in the first quarter of 1986.