P.M. BRIEFING : Exxon Quarterly Profit Off 9%
Exxon Corp. said today its third-quarter profit fell 9% due mainly to a $373-million stock repurchase and lower refining and marketing earnings.
Costs associated with the Alaska oil spill did not affect third-quarter results, Exxon said, although the company continued cleanup efforts during the period.
For the three-month period ended Sept. 30, Exxon said its earnings totaled $1.11 billion, or 87 cents a share, down from $1.23 billion, or 93 cents a share in the comparable 1988 period. Revenue rose 8% to $23.66 billion from $21.89 billion a year ago.
Start your day right
Sign up for Essential California for news, features and recommendations from the L.A. Times and beyond in your inbox six days a week.
You may occasionally receive promotional content from the Los Angeles Times.
