Exxon (XOM) Sinks

May 1, 2008 by Douglas A. McIntyre

Wall St. didn’t think much of Exxon’s (XOM) earnings. That is odd because the company made an obscene $10.9 billion. The stock is off over 2%.

The oil company’s earnings for the first three months of the year rose to $10.9 billion, or $2.03 per share, up from $9.3 billion, or $1.62 per share is the quarter a year ago.

Revenue rose to $116.8 billion from $87.2 billion.

All of that seemed to miss analyst expectations as the company ran aground.

Douglas A. McIntyre