Exxon profits slide with natural gas prices weak

Exxon Mobil brought in $69 billion in revenue in the second quarter, down from last year’s $73.5 billion.

Some of the benefits of rising crude prices, up 22% this year, were offset be natural gas prices, which have fallen almost 24% in the same time frame.

The nation’s largest oil company said Friday that its profit fell 21 percent to $3.1 billion, or 73 cents per share, compared with last year’s $4 billion, but that’s still better than the per-share earnings of 66 cents that analysts were looking for, according to a survey by FactSet.

Shares are up 2% before the opening bell.

Oil production was 3.9 million barrels per day, up 7 percent from the same time last year.

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