Feb 2, 2018

Exxon Mobil fourth quarter earnings miss Wall Street expectations

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..

By the numbers:

  • Q4 net income: $8.4 billion (or $1.97 per share), compared to $1.7 billion (41 cents per share) in the year-ago quarter.
  • Exxon also saw a $5.9-billion non-cash benefit thanks to the new tax package, which revalues deferred taxes. "Without the tax reform accounting changes, Exxon would have lost money in the United States," reports Reuters.

Go deeper

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 9 a.m. ET: 614,884 — Total deaths: 28,687 — Total recoveries: 135,671.
  2. U.S.: Leads the world in cases. Total confirmed cases as of 9 a.m. ET: 104,837 — Total deaths: 1,711 — Total recoveries: 894.
  3. Federal government latest: President Trump signed the $2 trillion coronavirus stimulus bill to provide businesses and U.S. workers economic relief.
  4. State updates: Alaska is latest state to issue stay-at-home order — New York is trying to nearly triple its hospital capacity in less than a month.
  5. World updates: Italy reported 969 coronavirus deaths on Friday, the country's deadliest day.
  6. Business latest: President Trump authorized the use of the Defense Production Act to direct General Motors to build ventilators for those affected by COVID-19. White House trade adviser Peter Navarro has been appointed to enforce the act.
  7. What should I do? Answers about the virus from Axios expertsWhat to know about social distancing.
  8. Other resources: CDC on how to avoid the virus, what to do if you get it.

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The one-minute coronavirus story

Illustration: Sarah Grillo/Axios

News about the coronavirus is so big and coming so fast that it's hard to remember what happened just last week, let alone last month.

Here's the quickest possible review of the story so far — how it happened and how the U.S. lost control.

Go deeperArrow16 mins ago - Health

Alaska becomes latest state to issue coronavirus stay-at-home order

Data: Axios reporting; Map: Danielle Alberti/Axios

Alaska issued a mandate Friday evening for all people in the state to "remain at their place of residence and practice social distancing" except for those engaged in essential services, including health care and government functions, effective Saturday at 5 p.m.

The big picture: This is the latest state to announce policies to enforce social distancing. More than 1.5 billion people worldwide were asked to stay home Monday.

Go deeperArrowUpdated 45 mins ago - Health