Exxon 4Q 2018 earnings down on previous Tax Reform gains

Oil giant ExxonMobil saw its fourth quarter 2018 earnings drop 28 percent compared to the fourth quarter of 2017 as last year’s result was boosted by tax reform.

ExxonMobil on Friday reported earnings of $6 billion, down from $8.3 billion realized in the fourth quarter of 2017. The 4Q 2017 result included a gain of $5.9 billion from the U.S. Tax Reform.
Earnings excluding U.S. tax reform and impairments were $6.4 billion for the fourth quarter of 2018, compared with $3.7 billion in the 4Q of 2017.

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