Exxon Mobil Profit Rises on Refining Gains
Exxon Mobil Corp. said third-quarter profit rose 38%, falling short of some forecasts, as natural-gas output declined. The company’s shares had their biggest decline in a year.
Net income rose to $3.65 billion, or 55 cents a share, from $2.64 billion, or 39 cents, a year earlier, the Irving, Texas-based company said. Revenue rose almost 11% to $59.84 billion.
Shares of Exxon Mobil fell $1.51, or 4%, to $36.30 on the New York Stock Exchange.