Exxon’s Q4 uptick fails to offset 2019 profit squeeze, as stock hits 10-year low

摘要

ExxonMobil achieved a quarter-on-quarter improvement in earnings in Q4’19 results released today thanks in no small part to its USD 4.5 billion Norwegian asset divestment. However, the uptick was not enough to avoid a sharp fall in full-year profits, which slumped 31% to USD 14.3 billion in 2019. XOM shares sank almost 4% in intra-day trades on Friday to hit ten-year lows, sparking analyst debate over the balance of impacts from the lacklustre results, coronavirus oil demand fears and wider Wall Street aversion to energy stocks due to decarbonisation and short- term oversupply.