: UPDATE: Exxon Mobil stock surges premarket after earnings crush consensus estimates to set profit record #FinanceUSA #StockMarketNEWS Exxon Mobil Corp. shares surged 2.5% in premarket trade Friday,

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UPDATE: Exxon Mobil stock surges premarket after earnings crush consensus estimates to set profit record #FinanceUSA #StockMarketNEWS
Exxon Mobil Corp. shares surged 2.5% in premarket trade Friday, after the oil giant blew past earnings estimates for the second quarter amid high oil prices and higher production. The company posted record net income of .850 billion, or .21 a share, for the quarter, more than three times the .690 billion, or .10, posted in the year-earlier period. The previous record net income came in the second quarter of 2012 at .91 billion. Adjusted per-share earnings came to .14, ahead of the .94 FactSet consensus. Revenue soared to 5.681 billion from .742 billion a year ago, also well ahead of the 1.302 billion FactSet consensus. The company said it increased Permian oil and gas production by about 130,000 oil-equivalent barrels a day and refining throughput by 180,000 barrels per day compared with the first half of 2021 to address a recovery in demand. Capex totaled .5 billion for the first half, on track with full-year guidance. Shares have gained 51% in the year to date, while the Dow Jones Industrial Average has fallen 10%.

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