Exxon Mobil Corp reported a 5.2% drop in fourth-quarter profit on Friday, as assets sales propped up flat year-over-year oil and gas output and weakness in its refining and chemicals businesses. Oil companies last quarter suffered from weaker prices for their products, and in Exxon’s case it has been spending heavily to boost its oil output to reverse production declines. Net income attributable to Exxon fell to $5.69 billion, or $1.33 per share, in the three months ended Dec. 31, from $6 billion, or $1.41 per share, a year earlier. …read more
Source:: Yahoo Finance
