Exxon Mobil Corp.’s stock rose Friday after the oil giant topped analyst estimates for first-quarter profit and grew its production, and as the broad market also advanced.

Exxon Mobil on Friday beat Wall Street's estimate for first-quarter profit as higher oil and gas production from Guyana and the Permian basin helped boost earnings.

Exxon Mobil reported better than expected Q1 earnings, helped by higher production from Guyana and the Permian Basin, but revenues came in flat from the year-earlier quarter at $83.1B.

Exxon Mobil’s first quarter profit slumped to the lowest level in years, stung by weaker crude prices and higher costs. The oil and gas giant earned $7.71 billion, or $1.76 per share, for the three months ended March 31. It earned $8.22 billion, or $2.06 per share, in the year-ago period.

The major oil companies’ results were hurt by narrow refining margins, lower oil prices and rising costs.

Exxon Mobil Corp. met earnings estimates thanks to higher production from low-cost projects such as Guyana and the Permian, allowing the oil giant to maintain its share buybacks despite the recent drop in crude prices.