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Exxon Mobil Posts Surge in Earnings
Thursday, April 28, 1:13 PM ET

Exxon Mobil (NYSE:XOM) posted a surge in first quarter earnings today, boosted by soaring high oil prices.

Net income totaled $10.65 billion, or $2.14 per share, up from $6.3 billion, or $1.33 per share, in last year’s first quarter.

Revenue rose more than 25%, to $114 billion.

Results exceeded analyst expectations, and marked Exxon’s best quarter since oil prices were at record highs in the third quarter of 2008.

Exxon shares are trading down over .5% Thursday.

Europe-based rival Royal Dutch Shell (RDS.a) posted better-than-expected earnings today as well. Chevron (NYSE:CVX) reports tomorrow.

Exxon is the top stock in the iShares Dow Jones U.S. Energy Sector Index Fund (AMEX:IYE), trading down over .2% today.

Other top holdings in the fund include Chevron, trading down .4% ahead of its report, Schlumberger (NYSE:SLB), ConocoPhillips (NYSE:COP) and Occidental Petroleum (NYSE:OXY).

The Vanguard Energy ETF (AMEX:VDE) holds the same stocks, and is trading down about .4% Thursday. The Energy Select Sector SPDR Fund (AMEX:XLE), which also has the same holdings, is trading down over .2%.

For MarketNewsVideo.com, I’m Sayoko Murase.

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