Exxon Mobil Corp. shares XOM slid 3% in premarket trade Tuesday, after the oil giant’s fourth-quarter revenue fell short of estimates. The company posted net income of $12.750 billion, or $3.09 a share, for the quarter, up from $8.870 billion, or $2.08 a share, in the year-earlier period. Adjusted per-share earnings came to $3.40, ahead of the $3.29 FactSet consensus. Revenue rose to $95.429 billion from $84.965 billion a year ago, below the $97.345 billion FactSet consensus. “While our results clearly benefited from a favorable market, the counter-cyclical investments we made before and during the pandemic provided the energy and products people needed as economies began recovering and supplies became tight.,” CEO Darren Woods said in a statement. “We leaned in when others leaned out.” The stock has gained 49.5% in the last 12 months, while the Dow Jones Industrial Average DJIA has fallen 4%.
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