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Chevron 4Q profit jumps 72 pct as oil prices rise

Chevron 4Q profit jumps 72 pct as oil prices rise

Chevron says its fourth-quarter earnings jumped 72 percent as rising fuel demand lifted oil prices and produced a sharp turnaround in its refinery business.
The San Ramon, California, company on Friday reported net income of $5.3 billion, or $2.64 per share, for the final three months of 2010. That compares with $3.1 billion, or $1.53 per share, in the same part of 2009. Revenue climbed 11 percent to $54.03 billion.
Analysts had expected earnings of $2.35 per share on revenue of $60 billion, according to FactSet.
For the full year, Chevron Corp. said it earned $19.14 billion, or $9.48 per share, compared with $10.56 billion, or $5.24 per share, in 2009.


Updated : 2021-06-24 18:02 GMT+08:00