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Exxon Mobil fourth quarter earnings miss Wall Street expectations

Exxon Mobil
Photo: Ty Wright / Bloomberg via Getty Images

Exxon Mobil reported fourth quarter earnings of 88 cents a share Friday, missing analysts estimates of $1.04 a share.

The big picture: Despite Exxon's rare earnings miss, the oil giant still posted its strongest annual earnings since 2014, per CNBC. And last week, Exxon announced that it's tripling its Permian shale production as part of a plan to invest $50 billion in the U.S..