Exxon Mobil Corporation (NYSE: XOM ) early Friday posted mixed first quarter earnings results, as it continues to navigate through one of the largest downturn in oil prices in history.

Written by StockNews.com

The Irving, TX-based integrated oil behemoth reported Q1:

• earnings per share (EPS) of $0.95, which was $0.08 better than the Wall Street consensus estimate of $0.87,
• revenues rose 29.9% from last year to $63.29 billion, missing analysts’ view for $64.88 billion, however.
• Upstream (exploration) earnings improved to $2.3 billion...compared with a net loss of $76 million in the year-ago period.
• Upstream volumes fell 4% to 4.2 million oil-equivalent barrels per day.
• Downstream (refining) earnings grew to $1.1 billion, up $210 million from Q1 2016. The increase was mostly due to better margins, as well as volume and mix effects.

Darren W. Woods, Chairman & CEO commented as follows:

“Our results reflect an increase in commodity prices and highlight our continued focus on controlling costs and operating efficiently.

We continue to make strategic acquisitions, advance key initiatives and fund long-term growth projects across the value chain.”

...Year-to-date, XOM had declined -9.15% prior to today’s report, versus a +7.21% rise in the benchmark S&P 500 index during the same period.

XOM currently has a StockNews.com POWR Rating of C (Neutral) and is ranked #27 of 103 stocks in the Energy – Oil & Gas category.