Plus, Corrado Russo, head of global securities at Hazelview Investments, shares some insight for real estate investors.
(Bloomberg) -- Exxon Mobil Corp. reaped a record $59 billion profit but disappointed some investors by holding the line on share buybacks. Most Read from Bloomberg8,000 Layoffs Don’t Exactly Scream Family ValuesPutin’s War in Ukraine Pushes Ex-Soviet States Toward New AlliesSony Slashes PlayStation VR2 Headset Output After Pre-Orders DisappointMicrosoft Studio Behind Halo Faces a Reboot on Years of TurmoilNational Archives Releases Records Tied to Trump Classified DocumentsFull-year profit, excl
It was also the highest tally in the history of the Western oil industry. Despite that impressive feat, Exxon's fourth-quarter results were a bit underwhelming because revenue came in below analysts' expectations due to lower oil and gas prices. The company also didn't follow rival Chevron's (NYSE: CVX) lead by unveiling a significant boost to its share repurchase program.