Chevron Earnings: Double-Digit Profit Growth
…Strong cash flows allowed us to invest aggressively in our major capital projects and to acquire several important, new resource opportunities. We also raised the dividend on our common shares for the 25th consecutive year and continued our share repurchase program, both of which demonstrate our commitment to providing near-term, top-tier returns to our shareholders.”
Revenue decreased 3% from $58.04 billion in the previous quarter. Net income increased 38.02% from $5.25 billion in the previous quarter.
Looking Forward: Analysts have a more positive outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has risen from a profit of $3.04 to a profit $3.05. For the current year, the average estimate has moved down from a profit of $12.85 to a profit of $12.48 over the last ninety days.
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(Company fundamentals provided by Xignite Financials.)