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Chevron Earnings Soar Friday, July 30, 11:17 AM ET
Chevron (NYSE:CVX) reported strong earnings in the second quarter, helped by higher oil prices. The company said net income came in at $5.4 billion, or $2.70 per share, easily topping Wall Street estimates of $2.44 per share. Unlike peer Exxon Mobil (NYSE:XOM), Chevron posted strong revenue of $53 billion, narrowly beating the consensus estimates as the company increased production to take advantage of the higher energy prices in both crude and natural gas.
Despite the strong earnings, Chevron's stock looks to be following the markets lower this morning.
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