Exxon Mobil (NYSE: XOM) on Friday reported adjusted quarterly profits that missed Wall Street estimates, though the oil giant posted its strongest annual earnings since 2014.
The Irving, Texas-based company reported fourth-quarter earnings of 88 cents a share, excluding the impacts of U.S. tax reform and impairments. Analysts had expected earnings of $1.04 a share
"The impact of tax reform on our earnings reflects the magnitude of our historic investment in the U.S. and strengthens our commitment to further grow our business here," Exxon Chairman and CEO Darren Woods said in a statement.
Exxon's revenues came in at $66.52 billion, also missing estimates for $74.31 billion in sales.
In the year ago period, Exxon earned 90 cents per share, excluding a $2 billion charge, on $61.02 billion in revenues.
For the full-year, Exxon reported profits of $19.71 billion, its highest annual earnings since the start of an oil price slide in 2014, when it earned $32.52 billion.
Earnings from Exxon's upstream segment, which explores for and produces oil and natural gas, rose $9 billion from a year ago. Production of fossil fuels was down about 130,000 barrels a day during the same period.
Exxon Mobil on Wednesday announced it would leave its quarterly dividend unchanged at 77 cents per share.
Shares in Exxon Mobil trickled lower by five cents to $89.07 early Friday morning.
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