ExxonMobil (XOM) earnings Q2 2024

ExxonMobil on Friday posted its second highest results for the second quarter in the past decade, as the company achieved record production in Guyana and the Permian Basin.

Here is what Exxon reported for the second quarter compared with what Wall Street was expecting, based on a survey of analysts by LSEG: 

• Earnings per share: $2.14 vs. $2.01 expected

Exxon posted net income of $9.2 billion, or $2.14 per share, as production grew by 15% or 574,000 barrels per day, driven by record production in Guyana and the Permian.

The oil major has booked profits $17.5 billion in the first half, a 9% decline from $19.3 billion in the same period in 2023 due to lower refining margins and natural gas prices.

Exxon shares have rise nearly 17% since the start of 2024.

This is a developing story. Please check back for updates.