The second-biggest U.S. oil company, Chevron Corp., announced that its net income in the second quarter tripled to $5.4 billion, or $2.70 in earnings per share. The results exceeded Wall Street analyst expectations.
The higher profits were partly due to greater demand for fuel worldwide, as well as from higher commodities prices due to higher demand. Shares of the San Ramon, Calif.-based Chevron increased 19 cents (0.25 percent) in last Friday’s trading. Year-to-date the company’s shares are down about 1 percent.
The higher profits were partly due to greater demand for fuel worldwide, as well as from higher commodities prices due to higher demand. Shares of the San Ramon, Calif.-based Chevron increased 19 cents (0.25 percent) in last Friday’s trading. Year-to-date the company’s shares are down about 1 percent.
