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Chevron, ExxonMobil Announce Earnings
Friday, February 1, 11:46 AM ET

Chevron Corporation (NYSE:CVX) today reported earnings of $7.2 billion, or $3.70 per share, for the fourth quarter of 2012, versus $5.1 billion, or $2.58 per share in the 2011 fourth quarter. Results in the 2012 period included a gain of $1.4 billion from an upstream asset exchange. Full-year 2012 earnings were $26.2 billion, down 3 percent from $26.9 billion in 2011. Sales and other operating revenues in the fourth quarter 2012 were $56 billion, down from $58 billion in the year-ago period, mainly due to lower crude oil volumes.

ExxonMobil (NYSE:XOM) announced that profit in the fourth quarter was $9.95 billion, or $2.20 per share, versus $9.4 billion, or $1.97 per share, in the same period last year. Revenue was lower by 5 percent to $115.17 billion, a drop of $6.44 billion. Analysts had expected the company to earn $1.99 per share on revenue of $115.22 billion.

Shares are higher in early trading.

For MarketNewsVideo.com, I'm Kristin Bianco.

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