The Economy

Exxon Mobil Q4 Profit Beats Forecasts

Jan. 31, 2012

Net income reaches $9.4 billion.

Exxon Mobil Corp., the world's largest energy company, on Jan. 31 posted better-than-expected profit for the fourth quarter despite easing oil prices.

Exxon Mobil said net income was $9.4 billion in the final three months of 2011, up 2% from the year-ago period.

Earnings of $1.97 per share were 1 cent higher than analysts expected.

For all of 2011, net income leaped 34% to $41 billion, benefiting from higher oil and natural gas prices, the company said in a statement

Exxon Mobil said it had a record $36.8 billion in capital and exploration expenditures in 2011.

Copyright Agence France-Presse, 2012

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