Why This Oil Major's Huge Q4 Earnings Beat Didn't Matter to Wall Street
Finally, we have a winner! The last of the big five oil majors, French giant Total SA (NYSE: TOT), reported earnings on February 6, and results were impressive. Not only did the company beat earnings expectations, but it became the only oil major to post higher net income and earnings per share in Q4 2019 than in Q4 2018!
The stock market was so impressed that it... sent shares down by 1.5%. That's not what you'd expect when a company reports serious outperformance. Here's why Wall Street yawned at Total's accomplishment.
Total outperformed its year-ago quarter, but there's more to the story. Image source: Getty Images.
Source Fool.com