ExxonMobil Earnings Drop, but Beat Expectations

ExxonMobil (XOM), the world's largest publicly traded oil company, has been getting pinched by falling gasoline demand and rising oil prices. Today that trend continued.

The company earned a profit of $6.05 billion, or $1.27 per share, beating Wall Street's consensus estimates of $1.19. Revenue at the Irving, Texas-based company came in at $89.8 billion, beating analysts' expectations of $86.19 billion.