16:06 - 2.08.2024

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August 2, Fineko/abc.az. Chevron Corp., one of the largest U.S. oil companies, recorded a sharp decline in net profit and moderate revenue growth in the 2nd quarter of 2024, while revenue exceeded market forecasts and adjusted profit fell short of expectations.

ABC.AZ reports, referring to company's press release, that its net profit in April-June decreased by 26% to $4.43 billion, or $2.43 per share, compared with $6.01 billion, or $3.2 per share, for the 2023 same period.

Revenue grew by 4.7% up to $51.9 billion, significantly exceeding the consensus forecast of $48.68 billion.

Chevron's capitalization has increased by 2.3% since the beginning of the year, up to $281.3 billion, while the S&P 500 index has gained 14.2% over this period.