Chevron Reports Third-Quarter Net Income of $3.83 Billion

Noria news wires, Noria Corporation

Chevron Corporation on October 30 reported earnings of $3.83 billion ($1.92 per share – diluted) for the third quarter 2009, compared with $7.89 billion ($3.85 per share – diluted) in the 2008 third quarter. Earnings in the 2009 period included gains of approximately $400 million ($0.20 per share) from asset sales and tax items. Foreign-currency effects reduced earnings in the 2009 quarter by $170 million, compared with a benefit to income of $303 million a year earlier.


For the first nine months of 2009, earnings were $7.41 billion ($3.71 per share – diluted), down 61 percent from $19.04 billion ($9.23 per share – diluted) in the first nine months of 2008.


Sales and other operating revenues in the third quarter 2009 were $45 billion, compared with $76 billion in the year-ago quarter. For the first nine months of 2009, sales and other operating revenues were $120 billion versus $222 billion in the corresponding 2008 period. The decline in both comparative periods was primarily due to lower prices for crude oil, natural gas and refined products.

About the Author
Create your own user feedback survey