ExxonMobil Sees Its Earnings Gusher Continuing. Is the Oil Stock a Buy?
ExxonMobil (NYSE: XOM) expects to post strong results for the third quarter. The oil giant recently gave investors a preliminary glimpse into those numbers. While the recent slump in oil prices will see its profits decline from its blowout second-quarter results, the company still expects to produce gushing profits.
Exxon's ability to produce strong profits amid a slide in oil prices is great news for investors. Meanwhile, with the prospects for crude oil growing brighter following OPEC's recent announcement, the oil stock could have more upside ahead.
Exxon recently revealed its preliminary third-quarter results. The oil giant sees its earnings coming in at around $11 billion before any asset-impairment charges. While that's down sharply from the $17.9 billion earnings gusher it posted in the second quarter, it's well ahead of the $6.8 billion it earned in last-year's third quarter.
Source Fool.com
