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 This material may not be published, broadcast, rewritten or redistributed.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
Top Stories
You May Also Like

Texas Calls Voter ID Trial Obama Play For Minority Votes

Tuesday, 02 Sep 2014 15:34 PM

The U.S. Justice Department wants Texas back.
A trial that began today in Corpus Christi over the legality of a vot . . .

Apple Says ICloud Not Breached in Celebrity Photo Hack

Tuesday, 02 Sep 2014 15:22 PM

Apple said Tuesday that certain accounts of Hollywood celebrities were compromised via a very targeted attack on its s . . .

Americans Still Use Libraries, But Question Long-Term Relevancy

Tuesday, 02 Sep 2014 15:09 PM

Despite having used a public library in the last year, most Americans do not believe they will remain relevant in the ag . . .

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