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Market Movers

Exxon Mobil’s earnings slide in 2d quarter

Exxon last posted quarterly earnings under $7 billion in the first quarter of 2010.

Associated Press

Exxon last posted quarterly earnings under $7 billion in the first quarter of 2010.

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Exxon Mobil reported its lowest quarterly profit since 2010, as it struggled to boost production and results from its oil refining operations weakened. Net income fell to $6.86 billion, or $1.55 per share, down from $15.9 billion a year ago. Analysts expected $1.90 per share. Revenue fell 16 percent, to $106.47 billion. Exxon pointed a finger at the global economy, saying growth in the US remained sluggish, China’s economy grew slower than expected, and Europe remained weak.

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