While ExxonMobil's Profit Is Plunging, Its Strategy Could Pay Big Dividends in the Coming Years
ExxonMobil (NYSE: XOM) recently reported rather lackluster first-quarter earnings. The oil giant's adjusted earnings declined by 29% to $8.2 billion, or $2.06 per share. That fell a bit short of the analysts' consensus estimate of $2.19 per share. The energy giant battled headwinds from lower natural gas prices and refining margins.
However, while the first quarter was a little underwhelming, ExxonMobil's future remains bright. Here's a closer look at the energy giant's recent quarterly results and why investors shouldn't miss the forest for the trees.
Exxon's earnings declined from the fourth quarter and the year-ago period, down over $1.7 billion and $4 billion, respectively. However, it was going up against challenging comparable periods as natural gas had been well above its historical averages:
Source Fool.com
