7/30, 12:09 PM (Source: TeleTrader)
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Chart for: Chevron Corp

Chevron's Q2 revenue surges 178% to $37.6B

Chevron Corporation unveiled on Friday that its total revenue for the second quarter of the year reached $37.6 billion, beating analysts' expectations. This marks a 178% increase when compared to the same period last year.

At the same time, the energy company reported that its quarterly adjusted earnings totaled $3.3 billion, skyrocketing from last year's loss of $2.9 billion. Upstream earnings accounted for $3.2 billion, while downstream earnings landed at $838 million. Chevron's earnings per share climbed to $1.71.

Chevron’s Chairman Mike Wirth stated: "Second quarter earnings were strong, reflecting improved market conditions, combined with transformation benefits and merger synergies. We will resume share repurchases in the third quarter at an expected rate of $2 to $3 billion per year."

Breaking the News / OL