Exxon Mobil Corporation (XOM) has reported 39.57 percent plunge in profit for the quarter ended Dec. 31, 2016. The company has earned $1,680 million, or $0.41 a share in the quarter, compared with $2,780 million, or $0.67 a share for the same period last year.

Revenue during the quarter went up marginally by 2.02 percent to $61,016 million from $59,807 million in the previous year period. Total expenses were 98.99 percent of quarterly revenues, up from 95.61 percent for the same period last year. That has resulted in a contraction of 338 basis points in operating margin to 1.01 percent.
 

"ExxonMobil demonstrated solid operating performance in 2016. Financial results for the year were negatively impacted by the prolonged downturn in commodity prices and the impairment charge," said Darren W. Woods, chairman and chief executive officer. "The company's continued focus on fundamentals and our ability to leverage an attractive global portfolio through our integrated business ensures we are well positioned to generate long-term shareholder value."