Exxon Q4 Profit Soars
Exxon Mobil Corp, the world's largest publicly-traded oil producer, said on Friday its quarterly profit jumped more than four-fold on rising oil prices and cost cuts.
The company posted net income of $8.4 billion, or $1.97 per share, compared to $1.7 billion, or 41 cents per share, in the year-ago quarter.
The company saw a $5.9 billion non-cash benefit related to recent U.S. tax reform to revalue deferred taxes.
Production fell 3 percent to 4 million barrels of oil equivalent per day.
Reporting by Ernest Scheyder
