ExxonMobil, the world’s largest publicly traded oil company, said Thursday its second-quarter profit fell 1% from a year ago as lower natural gas prices hurt results.
Still, the company’s net income of $10.26 billion was the fourth-largest quarterly profit ever recorded by a publicly traded U.S. company. The latest profit compared with earnings of $10.36 billion in the second-quarter of 2006.
On a per-share basis, Irving, Texas-based ExxonMobil reported earnings of $1.83 a share in the most-recent quarter, up from $1.72 from a year ago, reflecting fewer shares on the market because of an ongoing stock buyback program.
Revenue in the quarter dipped slightly to $98.35 billion from $99.03 billion a year ago.
The per-share result fell short of the forecast of $1.96 a share by analysts polled by Thomson Financial, but the revenue figure topped the prediction of $97.6 billion. The earnings estimates typically exclude onetime items.