Chevron (CVX) Exxon (XOM) earnings Q2 2021


Michael Wirth, CEO of Chevron.

Adam Jeffery | CNBC

Chevron and Exxon on Friday both reported profits for the second-straight quarter as improving demand for petroleum products and a jump in oil and gas prices boosted operations.

Chevron also reinstated its share repurchase program, signaling confidence in its futures earnings.

The oil giant earned $1.71 per share during the second quarter on an adjusted basis, with revenue coming in at $37.6 billion. Analysts were expecting the company to earn $1.59 per share on $35.94 billion in revenue, according to estimates from Refinitiv.

“Our free cash flow was the highest in two years due to solid operational and financial performance and lower capital…

Source cnbc.com

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