Chevron Reports Second Quarter Net Income Of $7.7 Billion, Up From $5.4 Billion In Second Quarter 2010
Chevron Corporation (NYSE:CVX) today reported earnings of $7.7 billion ($3.85 per share – diluted) for the second quarter 2011, compared with $5.4 billion ($2.70 per share – diluted) in the 2010 second quarter.
Sales and other operating revenues in the second quarter 2011 were $67 billion, up from $51 billion in the year-ago period, mainly due to higher prices for crude oil and refined products.
| Earnings Summary | ||||||||||||||||
| Three Months Ended June 30 | Six Months Ended June 30 | |||||||||||||||
| Millions of dollars | 2011 | 2010 | 2011 | 2010 | ||||||||||||
| Earnings by Business Segment | ||||||||||||||||
| Upstream | $ | 6,871 | $ | 4,542 | $ | 12,848 | $ | 9,266 | ||||||||
| Downstream | 1,044 | 975 | 1,666 | 1,171 | ||||||||||||
| All Other | (183 | ) | (108 | ) | (571 | ) | (476 | ) | ||||||||
| Total (1)(2) | $ | 7,732 | $ | 5,409 | $ | 13,943 | $ | 9,961 | ||||||||
| (1) Includes foreign currency effects | $ | (81 | ) | $ | 241 | $ | (245 | ) | $ | 43 | ||||||
| (2) Net income attributable to Chevron Corporation (See Attachment 1) | ||||||||||||||||
“Our second quarter financial performance was very strong,” said Chairman and CEO John Watson. “Earnings gains versus last year’s quarter were primarily in our oil and gas exploration and production business, resulting from higher crude oil prices on world markets.”
Select the service that is right for you!
COMPARE ALL SERVICESAction Alerts PLUS
TRY IT FREEJim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
Product Features:
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
TheStreet Quant Ratings
TRY IT FREENew! $49.95/yr
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
Product Features:
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Stocks Under $10
TRY IT FREEDavid Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.
Product Features:
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
- Weekly roundups
Dividend Stock Advisor
TRY IT FREEJim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
Product Features:
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
TRY IT FREEAll of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
Product Features:
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Options Profits
TRY IT FREEOur options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
Product Features:
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV
