News / Article

The tax cut is a $6 billion gift to Exxon

Source: money.cnn.com - Feb 3, 2018

The tax windfall helped Exxon's (XOM) net profits surge fivefold, the world's largest publicly traded oil company said on Friday.

Excluding the tax bonanza, Exxon's results left Wall Street wanting more. Adjusted earnings unexpectedly declined and revenue missed the mark by a wide margin. Exxon shares slumped about 5%.

CLICK SOURCE TO READ ARTICLE

Category: General Business