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ExxonMobil rises on quarterly profit beat fueled by refining margins

By Reuters News

** Shares of US oil major ExxonMobil XOM.N rise 2.3% to $187.54

** Company beats expectations for Q3 adjusted profit on soaring refining margins driven by fuel supply disruptions due to the wars in Iran and Ukraine

** XOM posts Q3 adjusted profit of $4.23/share vs estimate of $4.08/share — data compiled by LSEG

** Company reports Q3 adjusted total earnings of $17.5 billion vs estimate of $16.6 billion

** XOM's Q3 adjusted downstream earnings surge 120% to $9 billion from Q2 due to higher refining margins

** XOM's Q3 adjusted upstream earnings fall 20% to $7.3 billion from Q2, as benchmark Brent crude prices were lower than in the previous three months

** Including session's gains, stock up 55.8% YTD

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