Pumped up Chevron profit
Chevron says net income rose 41 per cent in the fourth quarter as the company produced more oil and gas, improved performance of its refinery business and realized a gain from swapping assets in an Australian natural gas field.
Chevron Corp. posted net income of $7.2 billion for the quarter on revenue of $60.6 billion. That's up from $5.1 billion on revenue of $60 billion a year ago.
On a per-share basis, Chevron earned $3.70. Analysts had expected the company to earn $3.07 per share, according to FactSet, but analysts had not factored in the $1.4 billion gain from Chevron's asset exchange.
Excluding the gain from the asset sale Chevron's net income rose 14 per cent in the quarter.
Read more Business News
- All candidates forum comingKelowna
- Truck thief quickly nabbedPenticton / S. Okanagan
- Bobbitt hearing adjournedPenticton / S. Okanagan
- Development builds protestKelowna
|QHR Technologies Inc||1.17||+0.05|
|Anavex Life Sciences||0.192||+0.001|
|Copper Mountain Mining||2.17||+0.18|
|Sunrise Resources Ltd||0.06||0.00|
|Mission Ready Services||0.46||+0.01|
This time of year, I always worry about which friends of mine will get caught going off the road in adverse weather conditions. With a little preparation most accidents can be avoided. Having won the...
Photo: Thinkstock.comThe end of record-low rates is nigh, according to one major bank, which has taken a stance and predicted when the Bank of Canada will raise its long-standing overnight rate. &ldq...
The third week in October is “Small Business Week”, a week dedicated to supporting local, small businesses. The week was designed to bring awareness to Canadians about the role small busin...