First quarter in chiaroscuro for Exxon Mobil. The world's largest listed oil company saw profits grow by 0,5% thanks to improved operating margins (up from 14,1 to 14,7%), but recorded a drop in turnover and upstream and downstream activities.
The group reported profits of $9,5 billion ($2,12 per share), compared with $9,45 billion ($2 per share) in the same period last year. Revenue fell to $108,81 billion from $124,053 billion in the first quarter of 2012. Analysts were expecting earnings of $2,05 per share on revenue of $109,53 billion.
The company announced a second quarter dividend of 63 cents per share. The production of oil equivalents (a measure that combines crude oil and natural gas) decreased by 3,5%. Profits from exploration and production activities fell 9,8% to $7,04 billion, while those generated by refining activities fell 2,6% to $1,55 billion.
