Exxon: Q1 Earnings Snapshot

IRVING, Texas (AP) — IRVING, Texas (AP) — Exxon Mobil Corp. (XOM) on Friday reported first-quarter profit of $11.43 billion.

On a per-share basis, the Irving, Texas-based company said it had net income of $2.79. Earnings, adjusted for non-recurring costs, came to $2.83 per share.

The results exceeded Wall Street expectations, but Exxon does not adjust its reported results based on one-time events such as asset sales. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $2.65 per share.

The oil and natural gas company posted revenue of $86.56 billion in the period, which missed Street forecasts. Five analysts surveyed by Zacks expected $96.04 billion.