Exxon earnings beat estimates despite low oil prices

ExxonMobil

on Friday posted fourth-quarter earnings that beat Wall Street estimates, despite oil prices booking the biggest annual loss in years due to oversupply.

Exxon shares fell more than 1% in premarket trading.

Here is what the oil company reported for the fourth quarter compared with what Wall Street was expecting, based on a survey of analysts by LSEG:

In the fourth quarter, Exxon reported net income of $6.5 billion, or $1.53 per share, a decline of 14.6% from $7.61 billion, or $1.72 per share, in the year-ago period.