The New York Times reports:
Exxon reported income of $17.9 billion for the three months through June, more than three times what it earned a year ago. Revenue at the energy giant jumped to $115.6 billion, from $67.7 billion a year ago.
Chevron’s performance was similar, with profit more than tripling to $11.6 billion as sales rose to $65 billion, compared with $36 billion a year ago.
Coming after oil prices nearly doubled from a year ago, the bumper results were expected, but Exxon and Chevron still beat analysts’ predictions for profits in the quarter.
Read the full article.
Exxon Mobil and Chevron, the two largest U.S. energy companies, reported record quarterly profits following the spike in oil and gas prices caused mainly by Russia’s invasion of Ukraine. https://t.co/3NoTvu8mfj
— The New York Times (@nytimes) July 29, 2022