Exxon Mobil's Profit Spikes By 41 Percent, Yet Company Still Misses Expectations

Exxon Mobil's Profit Spikes And Company Still Misses Expectations

Exxon Mobil Corp, the world's largest publicly traded oil company, said higher oil prices contributed to a 41 percent rise in its second-quarter profit, but results fell short of expectations.

Shares of the Irving, Texas company fell 1.5 percent to $82.02 in premarket trading.

Exxon reported a profit of $10.68 billion, or $2.18 per share, up from $7.56 billion, or $1.60 per share a year ago.

Wall Street analysts on average had expected Exxon to report a profit of $2.33 per share, according to data compiled by Thomson Reuters I/B/E/S.

(Reporting by Anna Driver in Houston, editing by Dave Zimmerman)

Copyright 2011 Thomson Reuters. Click for Restrictions.

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