If you have belly fat is it worthwhile to do ab exercises?

I am probably about 10-15 pounds overwieght. It’s all in my middle (back and belly) and I even have a little bit of an underbelly (

I get so discouraged doing core exercises knowing that I will never see any results with a layer a fat covering it. Is it worthwhile for me to do ab exercises or are my efforts best spent focusing on cardio until I lose the excess body fat?