ExxonMobil Reports 49% Drop In Profits To $2.4 Bn, Shares Fall

Fahad Shabbir (@FahadShabbir) Published April 26, 2019 | 05:55 PM

ExxonMobil reports 49% drop in profits to $2.4 bn, shares fall

Exxon Mobil reported a nearly 50 percent plunge in first-quarter profits Friday due to weakness in its refining business and somewhat lower crude oil prices

New York, (UrduPoint / Pakistan Point News - 26th Apr, 2019 ) :Exxon Mobil reported a nearly 50 percent plunge in first-quarter profits Friday due to weakness in its refining business and somewhat lower crude oil prices.

The US oil giant reported earnings of $2.4 billion, down 49.5 percent from the year-ago period. The company's refining business lost $256 million in the quarter, compared with $2.7 billion in profits during the 2018 period.

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