Exxon Q3 Earnings: $11.3 Billion Cost Savings, Rising Production, Dividend Hike And More

Exxon Mobil Corporation (NYSE:XOM) shares are trading higher after the company reported third-quarter results. 

Total revenues and other income stood at $90.016 billion, missing the consensus of $93.938 billion.

Net production stood at 4,582 thousand oil-equivalent barrels per day, an increase of 5% from the previous quarter, driven by increased volumes from Pioneer assets.

Read: Exxon Mobil Q3 Preview: Will Rising Production, Cost Cuts Boost Earnings?

Adjusted net profit came in at $8.61 billion, down from $9.24 billion in the prior quarter. Adjusted EPS stood at $1.92, beating the consensus of $1.88.

Exxon’s capital and exploration expenditures stood at $7.16 billion in the third quarter, bringing year-to-date 2024 expenditures ...