Exxon Mobil, one of the world's largest energy companies, recently reported a decline in its fourth-quarter revenue and profits. This downturn can be attributed to the falling price of oil, which has negatively impacted the company's financial performance. Additionally, Exxon faced a significant impairment charge related to regulatory issues in California. Despite these challenges, the company managed to post a healthy adjusted profit and even raised its quarterly dividend.
In the three months ending on December 31, Exxon's revenue dropped to $84.34 billion, compared to $95.43 billion during the same period the previous year. This figure fell short of the $91.81 billion that analysts had predicted. The company's earnings for the quarter were $7.63 billion, or $1.91 per share, a decrease from the $12.75 billion, or $2.25 per share, earned in the previous year.
