Chevron profit doubles, production dips
Posted: Sat Oct 29, 2011 5:11 amChevron profit doubles, production dips
NEW YORK (MarketWatch) -- Chevron Corp. [: cvx] said Friday its third-quarter profit doubled to $7.8 billion, or $3.92 a share, from $3.8 billion, or $1.87 a share, in the year-ago period. Revenue increased to $64.4 billion, from $49.7 billion, on higher crude oil prices. Net oil equivalent production fell by 109,000 barrels per day to 1.94 million barrels a day. Wall Street analysts expected the San Ramon, Calif.-based component of the 30-stock Dow Jones Industrial Average to earn $3.47 a share on revenue of $70.4 billion, according to a survey by FactSet Research. "We had another successful quarter," said Chairman and CEO John Watson.
NEW YORK (MarketWatch) -- Chevron Corp. [: cvx] said Friday its third-quarter profit doubled to $7.8 billion, or $3.92 a share, from $3.8 billion, or $1.87 a share, in the year-ago period. Revenue increased to $64.4 billion, from $49.7 billion, on higher crude oil prices. Net oil equivalent production fell by 109,000 barrels per day to 1.94 million barrels a day. Wall Street analysts expected the San Ramon, Calif.-based component of the 30-stock Dow Jones Industrial Average to earn $3.47 a share on revenue of $70.4 billion, according to a survey by FactSet Research. "We had another successful quarter," said Chairman and CEO John Watson.