Exxon earnings rise as chemicals profits surge

NEW YORK — Exxon Mobil Corp. said earnings rose slightly in the first quarter as profits from chemicals production surged enough to offset declining production of oil and gas. Lower taxes also helped.

The Irving, Texas, company reported Thursday that net income totaled $9.5 billion in the quarter, or $2.12 per share, on revenue of $108.8 billion. During last year’s quarter, Exxon earned $9.45 billion, or $2 per share, on revenue of $124.1 billion.

Analysts expected Exxon to earn $2.05 per share, on average.

Read Friday's Arkansas Democrat-Gazette for more details.

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