HOUSTON - Exxon Mobil on Friday beat Wall Street's estimate for fourth-quarter profit as higher oil and gas production offset lower oil prices and weaker refining margins. Fourth quarter profit was $7.39 billion. Profit per share was $1.67, beating analyst estimates of $1.56, according to LSEG data.

Exxon reported total earnings of US$33.46-billion for full-year 2024, down from US$38.57-billion the year earlier

The results topped Wall Street expectations, though Exxon does not adjust its reported results based on one-time events such as asset sales. Analysts polled by Zacks Investment Research anticipated earnings of $1.

Exxon Mobil (NYSE:XOM) +0.4% pre-market Friday after reporting Q4 adjusted earnings that were roughly flat compared with the year-earlier quarter but ahead of Wall Street estimates, driven by high-margin projects in the Permian Basin and Guyana.