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Chevron 4Q profit falls 37 percent

Chevron 4Q profit falls 37 percent

Chevron Corp. says its fourth-quarter profit fell 37 percent as higher crude prices led to huge losses in its refining business.
The second-largest U.S. oil company on Friday reported earnings of $3.1 billion, or $1.53 per share, for the final three months of 2009. That compares with $4.9 billion, or $2.44 per share for the same period of 2008.
Revenue increased 10.3 percent to $47.6 billion.
Analysts expected quarterly earnings of $1.70 a share on revenue of $40.4 billion.
For the full year, Chevron earned $10.5 billion, or $5.24 per share, compared with $23.9 billion, or $11.67 per share in 2008.


Updated : 2021-07-28 22:29 GMT+08:00