ExxonMobil (XOM 0.31%) earned an impressive $9.1 billion in the third quarter. That was up from $7.9 billion in the second quarter as the company feasted on higher oil prices. Meanwhile, cash flow was even higher at $16 billion, a whopping $6.6 billion increase from the last quarter.
As strong as the third quarter was, even better days could be ahead for the oil giant. Here’s a closer look at the quarter and what’s in store for ExxonMobil investors.
ExxonMobil expected that higher oil prices would boost its upstream earnings by more than $1 billion in the third quarter, which is what happened:
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Source: The Motley Fool
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