Exxon Mobil earnings and revenue topped analysts' expectations on Friday, but profit fell 47 percent as low crude prices sapped profits.
Crude prices have fallen more than 50 percent from last year's high over $100 a barrel. While the crude decline hurt Exxon's largest oil and gas business, it also boosted profit margins in refining by lowering feedstock costs.
"Quarterly results reflect the continued strength of our downstream and chemical businesses and underscore the benefits of our integrated business model," Exxon Chief Executive Officer Rex Tillerson said in a statement.
The Irving, Texas, company posted profit of $4.24 billion, or $1.01 per share, compared with $8.07 billion, or $1.89 per share in the same quarter a year earlier.