Exxon profit halved by tumbling crude price; shares drop

July 31, 2015 1:23 PM

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Exxon profit halved by tumbling crude price; shares drop

Exxon Mobil Corp (XOM.N) reported lower-than-expected second-quarter results on Friday as tumbling crude prices halved profit at the world's largest publicly traded oil company.

Profit at Exxon's exploration and production business fared even more poorly with a profit of $2 billion, down sharply from $7.9 billion a year earlier.

Also read: Nissan sales up but profit dips on costs, China slowdown

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