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    Earnings News: Exxon Mobil Corporation (XOM), The Procter & Gamble Company (PG)

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    IBTimes

    by IBTimes

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    The Procter & Gamble Company (NYSE: PG) beat expectations as the company reported fiscal fourth quarter profit of 79 cents per share, down from 82 cents a share in the year-ago period, while revenue rose to $20.7 billion from $20.21 billion in the year ago quarter.

    Shares of Procter & Gamble rose1.81 percent to $81.75 per share after the bell.

    Exxon Mobil Corporation (NYSE: XOM) greatly missed Wall Street expectations, sending shares down 1.63 percent to $92.22 a share in morning trade. The oil giant said in the second-quarter it earned $6.86 billion on revenue of $106.47 billion, compared with earnings of $15.9 billion on revenue of $127.36 billion in the year ago period.

    ConocoPhillips (NYSE: COP) reported lower second-quarter earnings, but topped analysts’ expectations. Net income for the quarter was $2.05 billion, or $1.65 per share. Revenue fell 4.7 percent to $14.14 billion.

    Shares of ConocoPhillips rose 1.54 percent to $65.86 a share in early trade.

    Earnings after the bell Thursday: American International Group Inc (NYSE: AIG), LinkedIn Corp (NYSE: LNKD), Kraft Foods Group Inc (Nasdaq: KRFT).

    As of 10:30 a.m. Eastern, the Dow Jones industrial average soared 144.30 points or 0.93 percent, to 15,643.84. The S&P 500 rose 18.80 points or 1.12 percent, to 1,704.53. The Nasdaq Composite added 40.24 points or 1.1 percent, to 3,666.38.