Exxon posts $4.7B in Q2 profit as demand for fuel rebounds
NEW YORK (AP) - Exxon Mobil swung back to a profit and topped expectations on profit and revenue during the second quarter as demand for fuel recovered from lows reached earlier in the pandemic.
Profits reached $4.69 billion in the second quarter, beating analyst expectations. The oil giant brought in $67.74 billion in revenue, more than double the amount at the same time last year.
The recovery came during a politically tumultuous time for the oil industry.
Exxon’s shareholders recently voted to replace three of the company’s 12 board members with directors they said were better equipped to handle climate change.
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