Exxon’s so-so first quarter came on the heels of record profits in 2022.
Alphabet shares surge after Google’s parent posts better-than-expected earnings and announces its first cash dividend, Microsoft posts 31% quarterly growth in Azure cloud-computing revenue, and Exxon Mobil’s earnings miss estimates.
Exxon Mobil and Chevron reported first-quarter earnings and revenue declines early Friday as lower refining margins and natural gas prices took a toll on the energy giants. Meanwhile, the two U.S. supermajors continue to squabble over Chevron's attempt to move into oil-rich Guyana. XOM stock fell Friday while Chevron stock shook off early losses and advanced.