ExxonMobil took a $3.4 billion hit for exiting Russia. Its profit still soared
CNN
ExxonMobil took at $3.4 billion charge for exiting its business in Russia in the first quarter, but it still posted sharply higher profits on high oil prices
Revenue at ExxonMobil soared 53% to $90.5 billion. Even with the charge for exiting Russia, net income doubled to $5.4 billion. And excluding special items, its income more than tripled to $8.8 billion from $2.7 billion a year earlier.
But its earnings per share excluding special items were slightly lower than forecast by analysts surveyed by Refinitiv. Shares of ExxonMobil (XOM) were down about 2% in premarket trading on the report.
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