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Exxon’s third-quarter earnings hurt by weak oil prices
Exxon Mobil Corp’s operating profits fell last quarter for the fourth consecutive period. According to a regulatory filing on Tuesday, it showed all three businesses slumping from a year ago.
According to a securities filing, lower oil prices, weak results in its chemical business, and the lack of a tax benefits from the year-ago period pressured the business to cut earnings to about $4 billion for the third quarter that ended in September 30th.
Exxon has begun disclosing quarterly comparisons to deliver more information on its business to investors on time. The official results are due October 31st.
On Friday, Caterpillar Inc (CAT.N) announced a lower second-quarter profit because of the recession caused by the coronavirus outbreak. The decline was due to lower sales volume and changes in dealer inventories. During the second quarter ...
Oil traded higher on Friday, further reclaiming lost ground from three-week lows in the previous session as the COVID-19 situation continued to dent the global economy as well as oil consumption. Brent crude gained 0.3%, trading at $43.08 ...
Asian shares recorded a turbulent session on Friday as weak economic data from the United States and surging coronavirus infections worldwide dragged market confidence. The decline followed despite upbeat U.S. tech gains and signs of rebound ...
On Thursday, the United States’ Gross Domestic Product (GDP) suffered the biggest economic decline in the second quarter as the surge of coronavirus cases affected the whole country. The U.S. government decided to shut down restaurants, ...
European shares traded lower earlier on Thursday after underwhelming earnings reports dampened a U.S. Fed vow to continue rolling out stimulus plans in a bid to soften the economic blow of the COVID-19 pandemic. The pan-European STOXX lost ...
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