The US super major ExxonMobil reported a better-than-expected 53% increase in quarterly profit as an improving world economy sparked higher demand for fuel and chemicals as crude oil prices rose.
It reported a fourth-quarter profit of $9.25 billion, or $1.85 per share, compared with $6.05 billion, or $1.27 per share in the same quarter a year earlier.
Analysts on average had expected a profit of $1.63 per share, according to Thomson Reuters.
Oil-equivalent production rose 19% from the year-ago quarter, lifted by liquefied natural gas operations in Qatar, the Irving Texas Company said today.
Revenue soared to $105.2 billion from $89.8 billion a year earlier.
Shares of ExxonMobil, the world’s largest publicly traded oil company, rose 1.4% in premarket trading.
