Exxon Mobile Shares Advance As Q3 Earnings Top Forecasts Despite Hurricane Harvey

Shares of Exxon Mobil Corp. advanced on Friday after the multinational oil and gas corporation’s third quarter earnings topped market forecasts.

Exxon Mobile’s shares added 0.6 percent to trade at $83.97 after the oil giant said it earned $3.97 billion, or 93 cents a share, in the last quarter.

Although the company had to bear losses from Hurricane Harvey, which caused Exxon to shut down about a quarter of U.S. oil refining in September and therefore reduced earnings by about 4 cents a share, the result marked an advance from $2.65 billion, or 63 cents a share, recorded in the year-earlier period. Analysts had expected the company to earn $0.86 per share.

Revenue was reported to jump 12% from $58.7 billion to $66.2 billion in the three-month period ended September, beating analysts’ expectation for revenue of $62.8 billion.

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Buy Stop at 84.00, Take profit at 84.50, Stop loss at 83.75

 

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