Exxon Mobil on Friday reported quarterly earnings that fell slightly short of analysts expectations but nevertheless doubled from the same period last year.
Shares of Exxon were down 2 percent at midmorning. The stock also fell 2 percent in premarket trading. See the latest market action here.
The oil major earned $3.4 billion, or 78 cents a share in the second quarter, compared with $1.7 billion, or 41 cents a share, in the year-ago period.
Exxon posted $62.9 billion in revenue, up 9 percent from $57.7 billion.
Analysts had expected Exxon to report earnings of 84 cents a share on $61.9 billion in revenue.
"These solid results across our businesses were driven by higher commodity prices and a continued focus on operations and business fundamentals," Darren Woods, Exxon's chairman and CEO, said in a statement. "Our job is to grow long-term value by investing in our integrated portfolio of opportunities that succeed regardless of market conditions."