Earning Plays

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Chevron Corp. 4th Quarter Net Up 29% On Higher Oil Prices
Chevron Corp.'s fourth-quarter net income rose 29% to $4.87 billion, or $2.32 a share, from $3.77 billion, or $1.74 a share, a year earlier, as the company continued to benefit from the rising price of oil. Total upstream product and exploration income rose 66% to $4.84 billion, but total downstream income fell 79% to $204 million from $954 million a year ago. The San Ramon, Calif., energy company's sales and other operating revenue rose 30% to $59.9 billion from $46.24 billion a year ago. On average, analysts polled by Thomson Financial expected earnings of $2.26 a share on revenue of $76.09 billion. Worldwide oil-equivalent production was 2.61 million barrels a day in the period, which marked a 42,0000 barrel a day decrease from the year-ago period.
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