Exxon Mobil Corp. (XOM) posted a slight increase in first-quarter GAAP net income attributable to the company to $9.5 billion, or $2.12 a share, from the prior year's $9.45 billion, or $2.00 a share. On average, 21 analysts polled by Thomson Reuters expected earnings per share of $2.05 for the quarter. Analysts' estimates typically exclude one-time items.
Quarterly upstream earnings stood at $7.04 billion, down $765 million from last year. Lower liquids realizations, partially offset by improved natural gas realizations, reduced earnings by $230 million, and production volume and mix effects decreased earnings by $280 million, with all other items, including higher operating expenses, decreasing earnings by $250 million, according to the company.
Downstream earnings totaled $1.545 billion, down $41 million from the first quarter of 2012. While, stronger margins, mainly in refining, increased earnings by $780 million, volume and mix effects reduced earnings by $290 million, Exxon Mobil added.
The firm clocked total revenues and other income of $108.81 billion, down compared with the prior-year figure of $124.05 billion. Analysts estimated revenues of $119.83 billion for the quarter.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.