(Boursier.com) — Exxon Mobil misses the consensus after booking a $3.4 billion charge related to its planned exit from Russia’s Sakhalin-1 project. The energy giant nevertheless posted a net profit of $5.5 billion or $1.28 per share in the first three months of the year, compared to $2.7 billion and 64 cents per share for the year. previous. Adjusted earnings per share came in at $2.07, versus a consensus of $2.23. But revenue nearly doubled to $90.5 billion, slightly above analysts’ expectations. Cash flow from operations was $14.8 billion.
Production reached 2.3 million barrels per day, down 5% from the previous quarter. The major US oil producer will triple its previously announced share buyback program and now expects to repurchase up to $30 billion worth of securities by the end of next year.
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