Beijing early morning of February 3 news, according to the US financial website CNBC reported that Exxon Mobil shares fell more than 5% in early trading Friday, after the oil giant announced fourth quarter earnings.Export shows that although ExxonMobil Adjusted earnings in the fourth quarter fell short of Wall Street expectations, but profits for the company hit the best annual performance since 2014.
As of press time, Exxon Mobil shares fell 5.82% to 83.89 US dollars / share.
The Irvine, Texas-based company reported earnings of 88 cents a share for the fourth quarter, excluding the impact of U.S. tax reform, which analysts have on average expected Exxon Share earnings will reach 1.04 US dollars.
The impact of US tax reform on our earnings reflects the depth of our previous investment in the United States and reinforces our determination to further grow our business here. "ExxonMobil's Chairman and Chief Executive Officer Darren Woods said in a statement.
'We plan to invest more than $ 50 billion in the United States in the next five years to increase profitability and strengthen our portfolio of integrated businesses that are being supported by the business environment created by the U.S. tax reform.'
Exxon predicts corporate and financing spending will rise by $ 3 billion, mostly because of the "adverse impact" of $ 2.1 billion related to the new US tax reform act.
Exxon Mobil fourth-quarter revenue reached 66.52 billion US dollars, less than the analysts expected average of 74.31 billion US dollars.
A year ago, Exxon took a whopping 90 cents per share, lifting a $ 2 billion spending bill to $ 61.22 billion.
For the full year of 2017, Exxon Mobil posted net income of 19.71 billion U.S. dollars, setting the highest annual profit performance since the crude oil price began to decline in 2014. In 2014, ExxonMobil's annual net profit Reached 32.22 billion U.S. dollars.
ExxonMobil cash flow from operations hit $ 7.4 billion in the fourth quarter, about the same as a year ago. In the oil industry, cash flow from operating a business is a key measure of a company's financial health index.
Earnings from the upstream business of ExxonMobil (exploration and production of oil and gas) rose by about $ 9 billion from a year earlier, during which production of fossil fuels dropped by about 130,000 barrels per day.
In the fourth quarter, ExxonMobil also reported a profit increase of US $ 323 million from the downstream business, mainly refining crude oil into gasoline and other businesses.
Exxon Mobil in the fourth quarter from the chemical business profits reached 1.3 billion US dollars, an increase of 398 million US dollars compared with the same period last year.
Exxon Mobil announced Wednesday it will maintain a quarterly dividend at 77 cents a share.