Exxon Mobil 1Q profit more than doubles; produces more oil

Exxon Mobil's profit more than doubled in the first quarter as the oil major overcame falling energy prices by producing more oil.

Exxon Mobil Corp. earned $11.43 billion, or $2.79 per share, for the three months ended March 31. A year earlier it earned $5.48 billion, or $1.28 per share.

Stripping out certain items, earnings were $2.83 per share.

The results beat Wall Street expectations. Exxon does not adjust its reported results based on one-time events such as asset sales. Analysts surveyed by Zacks Investment Research were looking for earnings of $2.65 per share.