Exxon’s 1Q profit tumbles 49% partly on higher spending
Exxon Mobil’s first-quarter profit fell by half to $2.35 billion, its worst quarter since late 2016, as the company spent more on oil production and was hit by lower margins in its refinery business. The results fell short of Wall Street expectations, and the shares fell in afternoon trading Friday. The refinery side of the […]
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