Chevron (CVX) Posts Q2 Loss of 78c/Share
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Chevron Reports Second Quarter Loss of $1.5 Billion
July 29, 2016 8:30 AM EDTImpairments and lower crude oil prices reduce earnings Continued progress on spend reduction and major growth projects
SAN RAMON, Calif.--(BUSINESS WIRE)-- Chevron Corporation (NYSE: CVX) today reported a loss of $1.5 billion ($0.78 per share diluted) for second quarter 2016, compared with earnings of $571 million ($0.30 per share diluted) in the second quarter of 2015. Included in the quarter were impairments and other non-cash charges totaling $2.8 billion, partially offset by gains on asset sales of $420 million. Foreign currency effects increased earnings in the 2016 second quarter by $279... More
