Exxon Mobil Q2 profit falls 66 pc

NEW ORLEANS: Exxon Mobil says its second-quarter profit fell 66 per cent from a year ago as the world's biggest publicly traded oil company, like the rest of the industry, saw crude and gas prices fall sharply and refining margins tighten. (Watch)

Exxon Mobil, based in Irving, Texas, said Thursday that earnings for the April-June period came to $3.95 billion, or 81 cents a share. That was down from $11.68 billion, or $2.22 a share, a year ago, a record at the time.

Excluding one-time items, net income in the most-recent quarter amounted to $4.09 billion, or 84 cents a share.

Analysts polled by a news agency were looking for net income of $1.02 cents a share. Those estimates typically exclude one-time items.

Revenue fell 46 per cent to $74.5 billion from $138.1 billion a year ago. Analysts, on average, had forecast revenue of about $71.3 billion.