In this April 23, 2018, file photo, the logo for ExxonMobil appears above a trading post on the floor of the New York Stock Exchange. (File photo: AFP)

ExxonMobil reported better-than-expected quarterly profits Friday on higher commodity prices, pointing to rising petroleum demand amid the economic recovery from Covid-19.

The oil and gas giant reported profits of $4.7 billion in the second quarter, compared with a loss of $1.1 billion in the year-ago period when pandemic restrictions devastated energy demand. That translated into $1.10 per share, compared with the 97 cents projected by analysts.