Exxon's Q4 Profit Tumbles, Crude Prices Hurt

Exxon Mobil Corp on Tuesday reported a 58 percent drop in quarterly profit as low oil prices hurt results at the world's largest publicly traded oil company.

The Irving, Texas company reported that fourth-quarter profit slid to $2.78 billion, or 67 cents per share, from $6.57 billion, or $1.56 per share, in the same period a year earlier.

Exxon said its oil and gas output rose 4.8 percent in the fourth quarter.

Reporting by Anna Driver