Chevron profit tumbles 90 percent, misses estimates; shares drop
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Chevron Reports Second Quarter Net Income of $571 Million
July 31, 2015 8:30 AM EDTEffects of lower crude prices, impairments and other charges of $2.6 billion more than offsets gains on asset sales of $1.8 billion Continued progress on cost containment efforts and major growth projects
SAN RAMON, Calif.--(BUSINESS WIRE)-- Chevron Corporation (NYSE: CVX) today reported earnings of $571 million ($0.30 per share diluted) for second quarter 2015, compared with earnings of $5.7 billion ($2.98 per share diluted) in the 2014 second quarter. Included in the quarter were impairments of $1.96 billion and other charges of approximately $670 million relating to project... More
