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Oil giant ExxonMobil's third-quarter profits exceeded expectations.
Jin10 data reported on October 31, ExxonMobil (XOM.N) announced its third-quarter performance on Friday, exceeding Wall Street expectations, primarily due to increased oil and gas production in Guyana and the U.S. Permian Basin, which offset the impact of falling oil prices. According to data compiled by LSEG, the company's adjusted profit for the July to September quarter was $8.1 billion, or $1.88 per share, above the consensus expectation of analysts at $1.82 per share. As the largest oil producer in the United States, Exxon emphasized that its rich asset portfolio and technological advantages help improve oil recovery rates, allowing the company to remain profitable even during periods of low oil prices.