Exxon Mobil returns to profit on higher oil prices
- Date: 01-May-2021
- Source: The National
- Sector:Financial Markets
- Country:Gulf
Exxon Mobil returns to profit on higher oil prices
Exxon Mobil snapped a record streak of losses as rising oil and natural gas prices bolstered one of the biggest dividends in the S&P 500 Index.
Exxon earned 64 cents a share in the first quarter, beating the 61-cent average estimate from analysts in a Bloomberg survey. The oil giant’s exploration and drilling division drove most of the gains but it also received a substantial tailwind from higher chemicals prices that helped offset losses incurred during the deadly February storm in Texas.