U.S. oil and gas giant ExxonMobil’s net income attributable to shareholders was $23.04 billion in 2021, compared with a loss of $22.44 billion a year earlier, Prime reported, citing the company’s filing.
Earnings per share were $5.39 versus a $5.25 loss a year earlier.
The
company’s revenues rose nearly 1.6 times to $285.64 billion in annual terms
. ExxonMobil shares were a good investment. Photo: Dow Jones
At the end of the fourth quarter, the oil giant received a net profit of $8.87 billion compared with a loss of $20.07 billion a year earlier. Earnings per share were $2.08 for the reporting period compared to a loss of $4.7 a year earlier.
The
company’s revenue grew 1.8 times and reached $84.965 billion. Analysts were expecting the revenue at the level of $85.01 billion.
ExxonMobil (XOM) shares grew more than 5% on the New York Stock
Exchange.
Since the beginning of this year, the company’s securities have gained 26% and over the past year the growth exceeds 78%. We recommended XOM stock in “Top 10 from Exxon Mobil to EOG Resources” on December 4, 2021.
Hydrocarbon production in terms of oil equivalent declined 1.3% to 3.712 million bpd in 2021, and rose 3.4% year-over-year to 3.816 million bpd in the fourth quarter.
“Our effective response to the pandemic, focused investments and cost reductions have allowed us to realize the full benefits of the market recovery in 2021. We had significant progress in 2021, and our future plans will allow us to … increase revenue, improve operations and make the energy transition,” Chairman and CEO Darren Woods said in the release.
