Exxon Mobil profit rises 41 pct on higher prices

Exxon Mobil reports more than $10 billion in profits for the third quarter. / AP file photo

CHRIS KAHN, AP Energy Writer

NEW YORK (AP) " Exxon Mobil says its net income rose 41 percent in the third quarter as higher oil and natural gas prices made up for lower production.

The largest publicly traded oil company earned $10.33 billion, or $2.13 per share. That compared with $7.35 billion, or $1.44 per share, a year earlier. Revenue rose 32 percent to $125.3 billion.

Analysts had expected earnings of $2.12 per share on revenue of $118.5 billion, according to FactSet.

Oil production fell 7 percent to 2.25 million barrels per day while natural gas production slipped 3 percent to 4.28 million cubic feet per day.

Copyright 2011 The Associated Press.