Exxon Mobil Corp on Thursday said its quarterly profit plunged, falling short of Wall Street estimates, as the global recession bit into fuel demand and crude oil prices fell from year-ago levels.

Profit in the quarter was $4.73 billion, or 98 cents per share, compared with $14.83 billion, or $2.85 per diluted share, in the same quarter a year earlier.

Analysts on average had expected a profit of $1.03 per share, according to Thomson Reuters I/B/E/S.

Oil and gas output in the quarter rose 3 percent.

Revenue fell to $82.26 billion from $137.7 billion a year ago.

Shares fell to $72.85 from Wednesday's New York Stock Exchange close of $73.84.

(Reporting by Anna Driver in Houston, editing by Dave Zimmerman)