Record profits for ExxonMobil in the quarter, beat estimates

ExxonMobil shares rose 2.5% in premarket trading as the oil giant reported quarterly profit that beat estimates, thanks to higher oil prices and higher production.

The company reported record earnings of $17.85 billion, or $4.21 per share, in the quarter, triple the $5.48 billion, or $1.28, it reported a year ago.

The previous record profits came in the second quarter of 2012, at $15.91 billion.

Adjusted earnings per share came in at $4.21, topping estimates of $3.84.

Revenue rose to $115.681 billion from $67.742 billion a year ago, also beating estimates of $111.302 billion.

Capital spending came in at $9.5 billion for the first half, in line with estimates for the full year.

Source: Capital

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