Exxon Mobil Slips To Loss In Q2 - Quick Facts

(RTTNews) - Exxon Mobil Corp. (XOM) reported that its second-quarter net loss attributable to the company was $1.08 billion or $0.26 per share compared to net income of $3.13 billion or $0.73 per share in the previous year.

The latest-quarter results included a positive noncash inventory valuation adjustment from rising commodity prices of $1.9 billion, or $0.44 per share. Capital and exploration expenditures were $5.3 billion, nearly $2 billion lower than first quarter reflecting previously announced spend reductions.

Loss, excluding Identified Items per share, was $0.70, compared to earnings per share of $0.61 prior year. Analysts polled by Thomson Reuters expected the company to report a loss of $0.61 per share for the quarter. Analysts' estimates typically exclude special items.

Total revenues and other income for the quarter declined to $32.61 billion from $69.09 billion in the prior year. Analysts expected revenues of $38.16 billion for the quarter.