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Chevron’s earnings beat estimates in Q3

by ChemOrbis Editorial Team -
  • 03/11/2014 (12:19)
Chevron’s earnings increased more than expected in the third quarter of this year, according to media reports. The company’s earnings reached $5.59 billion ($2.95 per share) in the third quarter, up from $4.95 billion in the same period of last year. Initial estimates called for earnings of $2.55 per share in a survey conducted by Thomson Reuters.

The company’s earnings from its downstream units also jumped nearly fourfold to reach $1.39 billion due to stronger margins resulting from cheaper crude oil prices.

Meanwhile, the company’s production fell approximately 1% in the third quarter to reach 2.57 million barrels of oil equivalent per day.
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