ExxonMobil and Chevron Release Q2 Results

ExxonMobil Q2 Profit Soars, Chevron Profit Declines

ExxonMobil and Chevron released their second-quarter financial results. ExxonMobil reported a net profit of $9.24 billion, up 17.3% year-on-year, with adjusted earnings per share of $2.14 and revenue of $93.06 billion, both surpassing expectations. The profit increase was driven by higher oil prices and increased production following the acquisition of Pioneer. In contrast, Chevron reported a net profit of $4.4 billion, down 26% year-on-year, with adjusted earnings per share of $2.55 and revenue of $51.18 billion. Chevron’s profit decline was due to lower refining margins and falling oil prices.