Chevron's Profit Rises on Foreign Currency Boost
February 01 2019 - 9:16AM
Dow Jones News
By Kimberly Chin
Chevron Corp.'s (CVX) said fourth-quarter earnings rose 20% from
a year ago as profit was lifted by foreign currency.
Chevron's profit was $3.73 billion, or $1.95 a share, up from
$3.11 billion, or $1.64 a share, a year earlier. Analysts polled by
Refinitiv were looking for $1.92 a share.
The company said it had a $270 million asset write-off in the
quarter.
Total revenue rose 13% to $42.35 billion, but missed the
consensus forecast of $46.13 billion. Oil-equivalent production
rose 7% to 2.93 million barrels a day, the company said.
Chevron expects oil production in 2019 to grow by 4% to 7%,
excluding asset sales.
Write to Kimberly Chin at kimberly.chin@wsj.com
(END) Dow Jones Newswires
February 01, 2019 09:01 ET (14:01 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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