Exxon Quarterly Profit Down 68%, Misses Street

摘要

Houston (Reuters) - Exxon Mobil Corp. on Thursday said its quarterly profit fell 68%, missing Wall Street estimates, as the global recession bit into fuel demand and crude oil prices fell from year-ago levels. Exxon, the world's largest publicly traded oil company, and others have seen profits hit as ongoing weakness in world economies hurt demand for energy. Stockpiles are high, and both crude oil and natural gas prices declined sharply from year-ago levels in the quarter.