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Exxon Mobil profit falls 7% on dip in production
Exxon Mobil Corp, the world's largest publicly traded oil company, on Thursday reported a lower profit, as a 7.5% drop in oil and natural gas production and weaker commodity prices took a toll. The Irving, Texas, company said its third-quarter earnings fell to $9.57 billion, or $2.09 per share, from $10.33 billion, or $2.13 per share, a year earlier. Analysts on average had expected a profit of $1.95 per share, according to Thomson Reuters I/B/E/S.
Oil and gas output declined 7.5% to 3.96 million barrels oil equivalent (boe) per day, Exxon said.
US private sector adds 158,000 jobs in October
US companies added 158,000 jobs in October, data from a payrolls processor showed on Thursday in a revamped report on the private sector labour market. The historical data for the ADP National Employment Report was revised as part of the new methodology, which was used for the first time in the October report. September's increase has halved to 88,200 new jobs from an initially reported 162,000. Economists had forecast October's report would show a gain of 135,000 jobs, according to a Reuters poll.
Sony reduces loss on recovery in sales
Sony Corp. has reduced the flow of red ink for the fiscal second quarter on a sales recovery and restructuring efforts and is sticking to its full-year forecast for a return to profit. The Japanese electronics and entertainment company reported today a 15.5 billion yen ($193 million yen) loss for the July-September period, much better than the 27 billion yen loss racked up the same period the previous year. Quarterly sales improved 1.9% to 1.6 trillion yen ($20 billion).
Strong sales, high crude prices aid Rosneft profit
Russia's largest oil company Rosneft said Thursday that it doubled its profit in the third quarter of the year thanks to strong sales and higher oil prices. Rosneft's net profit rose to $5.7 billion in the July-September period from $2.8 billion last year. The increase was greater-than-expected in the markets and came despite a modest increase in revenues from $24.6 billion to $25.5 billion. The firm, which is 75%-owned by the government, last month sealed a historic deal to buy Russia's third-largest oil producer TNK-BP from BP and a group of Russian shareholders.