$4.5B Profit for Chevron Report Shows

In the second quarter of its fiscal year, Chevron Corp. reported earning more than $3 billion in profit. 

For the same period last year, Chevron reported a loss of $8.3 billion. In the first half of the year, the company’s net profit was $4.5 billion. According to the latest data, the company had lost $4.7 billion through the first six months of 2020. 

Company revenue rose from $13.5 billion in the second quarter of 2020 to $37.6 billion. Revenue totaled $69.6 billion during the first six months of the year.

Chevron CEO Michael Wirth commented on the company’s strong second-quarter earnings, explaining that the profits were primarily due to improved market conditions, better efficiencies, and merger synergies.