Exxon Corporation earnings disappoint.
Exxon Corporation released their Q1 2018 earnings that disappointed the stock market. XOM stock price was down almost 4%.
While the oil and gas company from Texas released numbers that were better than last year, they missed expectations by 3 cents. This is the second straight quarter Exxon Corporation did not meet analyst’s numbers.
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The oil market has been on quite a recovery lately. While this earnings report somewhat failed in the eyes of many, XOM stock price could be a great opportunity for investors to step in. Rising oil prices help boost Exxon’s profits, which already rose 16 percent from last year to $4.65 billion. A high number in revenue, at $68.21 billion, will only continue to rise as we move forward to the summer.
Exxon’s chemical and gasoline business faltered. The profit margins on these two spaces do not deliver the great results. Both were down 14% and 16% respectively.
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