UPDATE: Morgan Stanley Upgrades Chevron (CVX) to Overweight

Chevron Reports Third Quarter Net Income of $1.3 Billion

October 28, 2016 8:31 AM EDT

SAN RAMON, Calif.--(BUSINESS WIRE)-- Chevron Corporation (NYSE: CVX) today reported earnings of $1.3 billion ($0.68 per share diluted) for third quarter 2016, compared with earnings of $2.0 billion ($1.09 per share diluted) in the third quarter of 2015. Foreign currency effects increased earnings in the 2016 third quarter by $72 million, compared with an increase of $394 million a year earlier.

Sales and other operating revenues in third quarter 2016 were $29 billion, compared to $33 billion in the year-ago period.

         

Earnings Summary

  Three Months Nine Months Ended Sept. 30     Ended Sept. 30 Millions of dollars       2016     2015     2016     2015 Earnings by business segment         Upstream $ 454 $ 59 $ (3,467 )... More