Chevron Earnings: Double-Digit Profit Growth

Google+ | + More Articles
  • Like on Facebook
  • Share on Google+
  • Share on LinkedIn

Chevron Corp. (NYSE:CVX) delivered a profit and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are up 0.52%.

Markets are at 5-year highs! Discover the best stocks to own. Click here for our fresh Feature Stock Pick now!

Chevron Corp. Earnings Cheat Sheet

Results: Net income increased 41.52% to $7.25 billion ($3.7 per diluted share) in the quarter versus a net gain of $5.12 billion in the year-earlier quarter.

Revenue: Decreased 6.14% to $56.3 billion from the year-earlier quarter.

Actual vs. Wall St. Expectations: Chevron Corp. reported adjusted net income of $3.70 per share. By that measure, the company beat the mean analyst estimate of $3.04. It missed the average revenue estimate of $68.64 billion.

Quoting Management: “Chevron delivered another very strong year in 2012,” said Chairman and CEO John Watson. “Our upstream portfolio continues to produce excellent results. We’ve now led the industry in earnings per barrel for over three years. Our downstream businesses also delivered highly competitive earnings per barrel…

More Articles About:

To contact the reporter on this story: staff.writers@wallstcheatsheet.com To contact the editor responsible for this story: editors@wallstcheatsheet.com

Yahoo Finance, Harvard Business Review, Market Watch, The Wall St. Journal, Financial Times, CNN Money, Fox Business