Exxon Mobil Corp. Q1 Profit Increases, beats estimates

(RTTNews) - Exxon Mobil Corp. (XOM) announced a profit for its first quarter that increased from last year and beat the Street estimates.

The company's bottom line totaled $11.43 billion, or $2.79 per share. This compares with $5.48 billion, or $1.28 per share, in last year's first quarter.

Excluding items, Exxon Mobil Corp. reported adjusted earnings of $11.62 billion or $2.83 per share for the period.

Analysts on average had expected the company to earn $2.59 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 4.4% to $86.56 billion from $90.50 billion last year.

Exxon Mobil Corp. earnings at a glance (GAAP) :

-Earnings (Q1): $11.43 Bln. vs. $5.48 Bln. last year. -EPS (Q1): $2.79 vs. $1.28 last year. -Analyst Estimate: $2.59 -Revenue (Q1): $86.56 Bln vs. $90.50 Bln last year.