Exxon Mobil's Profit Pressure Despite Buybacks

3 months ago

Critty Gupta

"Now look, they beat their estimate. They're talking about starting up a series of good big projects. Talking about completing $20 billion of share repurchases, but it does look like the weak pricing really hurt their profit in the third quarter. Those shares dropping this morning. XOM is your ticker. Down about 1 and a half% this morning, $113 a share."

Exxon Mobil is highlighted as a downside mover. Although the company beat estimates and announced significant share repurchases and projects, weak pricing pressures have negatively impacted profits, resulting in a 1.5% drop in the stock.

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