Exxon Reports Quarterly Profit of $4.65 Billion on Rising Crude Oil Prices

Irving-based Exxon Mobil Corp. reported first-quarter earnings of $4.65 billion Friday, coming up just short of expectations despite rapidly rising crude prices.Crude oil prices are recovering after years of low prices weighing down revenue and profit for Exxon and its peers. Higher prices helped offset higher costs and a drop in production.The company's profit jumped 16 percent, with earnings of $1.09 a share, a nickel shy of projections on Wall Street, according to a poll by Zacks Investment Research.  Continue reading...