Exxon beats earnings expectations even as lower oil prices weigh on profits

CNBC’s Becky Quick reports on the company’s quarterly earnings results.

T, THANK YOU >> THANK YOU >>> LET’S KICK IT BACK TO THE WEST COAST WITH BECKY. >> ANDREW, THANK YOU WE HAVE RESULTS COMING IN. EXXONMOBIL REPORTING THE FOURTH QUARTER NUMBERS. ADJUSTED EARNINGS PER SHARE OF $2.48. THAT BEATS THE STREET ESTIMATE OF $2.21 IT COMES IN ON REVENUE OF $84.34

BILLION WHICH IS BELOW $85.32 BILLION TARGET EXXON RETURNED $32 BILLION IN SHAREHOLDER DISTRIBUTIONS FOR THE YEAR IT IS RAISING THE DIVIDEND BY 4.4% THE 41st STRAIGHT YEAR OF DIVIDEND INCREASES EXXON SET PRODUCTION RECORDS IN GUYANA AND PERMIAN DARREN WOODS WILL JOIN US IN THE

INTERVIEW AT 7:30 A.M. EASTERN TIME YOU SEE THE STOCK PICKING UP CHEVRON AND EXXONMOBIL COMING IN WITH NUMBERSEXPECTATIONS WE WILL TALK TO DARREN WOODS ABOUT THE EARNINGS AND THE SHAREHOLDER PROPOSAL THAT WAS BROUGHT TO TRY TO ADDRESS THE CLIMB ISSUE AND BRING TO THE SHAREHOLDER VOTE

EXXON TOOK THE UNUSUAL STEP OF SUING THEM FOR THE SITUATION IT TURNS OUT THAT THE ACTIVIST SHAREHOLDERS HAVE PULLED THAT PROPOSAL THEY WILL BE TALKING A LOT MORE ABOUT THAT WITH US TODAY PULLING THAT PROPOSAL BECAUSE SOME OF THE ACTIVIST INVESTORS ARE NOW WONDERING WHAT WILL

HAPPEN IF THEY WILL BE ABLE TO DO THIS. THEY SEE THE