ExxonMobil Corporation XOM posted first-quarter 2016 earnings of 43 cents per share that beat the Zacks Consensus Estimate of 31 cents. A resilient integrated business model enabled the energy behemoth to beat estimates despite the current environment of relentlessly falling commodity prices. The bottom line, however, deteriorated from $1.17 in the year-ago quarter. The impact of sharply lower commodity prices and weaker refining margins were partly offset by strong Chemical results. Exxon Mobil Corporation (XOM) Street EPS & Surprise Percent - Last 5 Quarters | FindTheCompany Total revenue in the quarter decreased to $48,707 million from $67,618 million in the year-ago quarter. The top line, however, was ahead of the Zacks Consensus Estimate of $48,137 million.Operational PerformanceUpstream: Quarterly earnings for the segment declined $2.9 billion from the first quarter of 2015, to a loss of $76 million. Lower liquids and gas realizations hurt earnings by $2.6 billion. The effect of sales mix lowered earnings by $100 million.Production averaged 4.325 million barrels of oil-equivalent per day (MMBOE/d), up 1.8% year over year. Liquid production increased 11.5% year over year to 2.538 million barrels per day. Natural gas production was 10,724 MCF/d (millions of cubic feet per day), down 1,104 MCF/d from the year-ago period.Downstream: The segment recorded profits of $906 million, down $761 million from the first quarter of 2015. Weaker margins affected earnings by $860 million. Volume and mix effects increased earnings by $10 million.ExxonMobil's refinery throughput averaged 4.185 million barrels per day (MMBPD), down from the year-earlier level of 4.546 MMBPD.Chemical: This unit contributed approximately $1.4 billion which was $373 million higher than the first quarter of 2015. Improved margins boosted earnings by $250 million. Favorable volume and mix effects increased earnings by $80 million.FinancialsDuring the quarter, ExxonMobil generated cash flow from operations and asset sales of $5 billion. The company returned $3.1 billion to shareholders through dividends and share repurchases. Capital spending decreased 33% year over year to $5.1 billion.Zacks RankExxonMobil currently has a Zacks Rank #3 (Hold). Some better-ranked stocks from the same space are SunCoke Energy Inc. SXC, PetroChina Co. Ltd. PTR and Braskem S.A. BAK. Each of these stocks holds a Zacks Rank #1 (Strong Buy).Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report PETROCHINA ADR (PTR): Free Stock Analysis Report EXXON MOBIL CRP (XOM): Free Stock Analysis Report BRASKEM SA (BAK): Free Stock Analysis Report SUNCOKE ENERGY (SXC): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research