An Inside Look at What Caused Chevron's Profits to Plunge by Nearly $6 Billion
(NYSE: CVX) recently reported its second-quarter results. The headline was that the oil giant produced a $6 billion profit, which was slightly above analysts' expectations. However, that was nearly 50%, or $6 billion, below the year-ago level.
Here's a closer look at what caused Chevron's profits to plunge by almost $6 billion in the second quarter.
Chevron hauled in nearly $49 billion of revenue during the second quarter. Here's a look at how that flowed through into its income statement:
Source Fool.com
Chevron Corp. Stock
€145.36
0.120%
The stock is an absolute favorite of our community with 26 Buy predictions and no Sell predictions.
As a result the target price of 179 € shows a positive potential of 23.14% compared to the current price of 145.36 € for Chevron Corp..
