Exxon’s third-quarter earnings hurt by weak oil prices
Exxon Mobil Corp’s operating profits fell last quarter for the fourth consecutive period. According to a regulatory filing on Tuesday, it showed all three businesses slumping from a year ago.
According to a securities filing, lower oil prices, weak results in its chemical business, and the lack of a tax benefits from the year-ago period pressured the business to cut earnings to about $4 billion for the third quarter that ended in September 30th.
Exxon has begun disclosing quarterly comparisons to deliver more information on its business to investors on time. The official results are due October 31st.