ExxonMobil earnings badly miss expectations as profits sink 59%

July 29, 2016 12:15 PM

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ExxonMobil earnings badly miss expectations as profits sink 59%

ExxonMobil reported reported its quarterly profit fell nearly 60 percent from a year ago as commodity prices remained low and its refining margins were weak.

The world's largest publicly traded integrated oil company earned $1.7 billion, or an adjusted 41 cents per share in the second quarter, compared with $4.2 billion, or $1 per share, in the year ago period.

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