Chevron's Earnings Rise, Helped By Merger Termination Fee
02 August 2019 - 11:22PM
Dow Jones News
By Allison Prang
Chevron Corp.'s (CVX) earnings rose, helped by $740 million in
income from the Anadarko merger termination fee, but revenue fell
8%.
Net income was $4.31 billion, up 26% from the comparable quarter
a year prior. Earnings were $2.27 a share, up from $1.78 a share.
Analysts polled by FactSet were expecting $1.88 a share.
Revenue was $38.85 billion, down 8%. Analysts were expecting
$40.12 billion.
Chevron said it also had a $180 million non-cash tax benefit
from Alberta, Canada's, corporate income tax rate drop. Costs and
other deductions were $32.92 billion, down 12%.
The company reported 3.08 million barrels per day in net
oil-equivalent production. It increased 9.1% year over year.
Write to Allison Prang at allison.prang@wsj.com
(END) Dow Jones Newswires
August 02, 2019 09:07 ET (13:07 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
Chevron (NYSE:CVX)
Historical Stock Chart
From Apr 2024 to May 2024
Chevron (NYSE:CVX)
Historical Stock Chart
From May 2023 to May 2024