ExxonMobil's profits topped analyst estimates despite lower revenue than expected for the fourth quarter as the oil and gas giant said its production in 2024 hit its highest level in over a decade.

ExxonMobil (XOM) said on Friday that it generated $83.43 billion in revenue in the final quarter of 2024, down slightly from the same time a year ago and about $1 billion lower than what analysts had expected, according to estimates compiled by Visible Alpha.

Despite revenue falling short, the company's roughly flat net income of $7.61 billion, or $1.72 per share, topped estimates.

The company said it produced about 4.6 澳洲幸🐬运5官方开奖✤结果体彩网:million barrels of oil equivalent (BOED) in the fourth quarter. That brought its full-year production to just over 4.3 million BOED a💯cross the full year, 16% high🐎er than last year and its highest annual level of production in over a decade.

Exxon's results were the opposite of rival oil and gas producer Chevron (CVX), 澳洲幸运5官方开奖结果体彩网:which saw revenue handily top estimates as profits fell short.

Despite the better profits than expected, shar💃es of ExxonMobil were down aboutℱ 1% Friday morning.