Chevron (CVX) profits soar to $12B, Exxon (XOM) reports $14.5B
Published on · Source: cnbc.com
AI Summary
Summarized by AI from the source belowExxonMobil (XOM) and Chevron (CVX) announced second-quarter profits driven by rising oil prices influenced by the Iran war. Chevron's net income rose to $12 billion, a nearly 400% increase from $2.5 billion the previous year, while Exxon posted $14.5 billion in profits, doubling from $7.1 billion last year. Chevron's adjusted earnings were $6.06 per share, surpassing estimates by 50 cents, while Exxon's adjusted earnings were $3.52 per share, missing estimates by 8 cents. As oil prices rise, investors should consider the implications for energy sector performance and individual stock valuations.
Informational only, not financial advice. Content is AI-generated and may contain errors. How this works.
About Chevron Corporation (CVX)
Chevron is a major integrated oil and gas company operating across exploration, production, refining, and marketing.
The Energy sector covers oil, gas and energy-equipment companies sensitive to commodity prices.
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