Tags: US | Earns | ConocoPhillips

ConocoPhillips Profit Jumps on Oil Prices

Thursday, 29 Apr 2010 08:24 AM

 

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink

Oil company ConocoPhillips says its first-quarter earnings more than doubled on the back of rising oil prices.

The company, based in Houston, said it made $2.1 billion, or $1.40 per share, for the quarter ended March 31, compared with $840 million, or 56 cents per share, in the year ago quarter.

Oil prices were about twice as high during the quarter as they were year ago, and more than offset the company's losses from its refining business.

Refiners have had difficulty passing higher fuel costs on to customers as energy demand continues to be weak from the recession.

Revenue totaled $44.8 billion in the quarter, up from $30.7 billion in the year-ago quarter.

© Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Retype Email:
Country
Zip Code:
Privacy: We never share your email.
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
You May Also Like

Texas Marijuana Farm a Rare Find Near Border

Saturday, 23 Aug 2014 11:39 AM

Officials say a two-acre field of marijuana recently found just 25 miles from the Texas-Mexico border was sophisticated  . . .

Officer Charged in Hot-Car Death of Police Dog

Saturday, 23 Aug 2014 07:23 AM

A Wyoming police officer has pleaded not guilty to an animal-cruelty charge that alleges a police dog died after he left . . .

Sharpton Expects Thousands to March Against NY Chokehold Death

Saturday, 23 Aug 2014 07:21 AM

Thousands of marchers are expected to protest the death of an unarmed black man who was placed in a chokehold by a white . . .

Most Commented

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved