Reported 2 months ago
Chevron reported a revenue of $51.18 billion for Q2 but failed to meet earnings expectations, resulting in a downgrade to 'Hold' from 'Buy.' The earnings per share came in at $2.55, below the anticipated $2.93, and concerns over a protracted delay in acquiring Hess due to an ongoing arbitration case with ExxonMobil contributed to the downgrade. In contrast, ExxonMobil had a successful quarter by exceeding its earnings expectations.
Source: YAHOO