Exxon's Diversity Doesn't Help in Times Like These
At a time when the world's major economies are struggling in tandem, companies like ExxonMobil seem to have lost the advantage that typically accompanies global diversity. When times were good, Exxon and companies like it were insulated from one-off, regional events. My how times have changed -- this oil and natural gas producing behemoth even had to go so far as to cut its share buyback expectations, which is a rare occurrence for shareholders to endure.
In the company's latest earnings release domestic and international struggles surfaced in the form of year-over-year revenue decreases in its two main segments: upstream and downstream operations. Luckily, and ironically, for Exxon, its chemical division bailed it out. Did peers like Chevron and BP suffer the same fate? Check out the video below to find out.
The article Exxon's Diversity Doesn't Help in Times Like These originally appeared on Fool.com.Joel South has no position in any stocks mentioned. Taylor Muckerman has no position in any stocks mentioned. The Motley Fool recommends Chevron. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.