Chevron shares fall despite profit jump, as refining supplies most of the increase
FROM THE WIRE · FINANCE.YAHOO.COM
This article first appeared on GuruFocus. Chevron (NYSE:CVX) shares fell 2.83% to $218.89 at 10:05 a.m. ET on November 4, despite a sharp jump in quarterly profit. The integrated energy producer reported third-quarter earnings of $9.924 billion on October 30, up from $3.539…
Read at the source ↗MARKET IMPACTNEUTRAL✦ News Impact agent estimateTone: expected bearishShares fell because profit growth relies on refining while operating cash flow declined sequentially.AI-generated summary
✦ IN BRIEF · AIAI-generated summary
- 01Chevron reported third-quarter earnings of $9.924 billion, up from $3.539 billion a year earlier.
- 02Downstream earnings accounted for about 59.4% of the annual profit increase.
- 03Operating cash flow fell to $16 billion from $22.6 billion in the prior quarter.
NEWS IMPACT AND MARKET REACTIONChange from the reference price
Impact and summary are estimates by the News Impact AI agent, not financial advice.Open in Markets