Exxon Mobil, Chevron earnings fall, but top revenue expectations
Summary
Exxon Mobil and Chevron reported lower profits in their latest quarter because of disruptions caused by the war in Iran. However, both companies earned more revenue than analysts expected for the period ending March 31.Key Facts
- Exxon Mobil and Chevron are two large U.S. oil companies.
- Both saw a drop in their profits in the last fiscal quarter.
- The profit decline was linked to interruptions related to the war in Iran.
- Despite lower earnings, they made more money from sales than Wall Street expected.
- The reported quarter covered the three months ending on March 31.
- Revenue means the total income from selling oil and related products.
- Analysts had predicted lower revenue than what was actually reported.
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