Chevron's net income fell nearly 7 percent in the second quarter as oil prices and production declined.
The oil giant said Friday it earned $7.21 billion, or $3.66 per share, last quarter. That compared with $7.73 billion, or $3.85, a year earlier. Revenue fell by 9 percent in the quarter to $62.6 billion.
Those results beat Wall Street estimates of $3.23 on revenue of $71.4 billion, according to FactSet. Shares rose by 24 cents to $108.51 in premarket trading.CVX, from Yahoo!In-Play, slightly different
Chevron Corp., the second-largest U.S. petroleum company behind Exxon Mobil, said production from its global network of oil and natural gas wells fell 2.6 percent in the second quarter.
Chevron beats by $0.42, beats on revs: Reports Q2 (Jun) earnings of $3.66 per share, $0.42 better than the Capital IQ Consensus Estimate of $3.24; revenues fell 9.2% year/year to $62.61 bln vs the $58.37 bln consensus.Arch Coal, from Yahoo!In-Play:
Arch Coal is up huge (+12%) pre-market following earnings results, which is so far giving most the coal group a boost.HP, from Yahoo!In-Play:
Arch Coal beats by $0.08, beats on revs; reaffirms thermal coal sales volume forecast, lowers met coal forecast: Reports Q2 (Jun) loss of $0.10 per share, excluding non-recurring items, $0.08 better than the Capital IQ Consensus Estimate of ($0.18); revenues rose 7.9% year/year to $1.06 bln vs the $1 bln consensus.
Beats by $0.22, beats on revs: Reports Q3 (Jun) earnings of $1.38 per share, $0.22 better than the Capital IQ Consensus Estimate of $1.16; revenues rose 27.3% year/year to $819.8 mln vs the $778.73 mln consensus.