ExxonMobil and Chevron on Friday reported second-quarter profits that surged on rising oil prices due to the Iran war.

Chevron’s net income soared to $12 billion, a nearly 400% increase compared to $2.5 billion in the same period last year. Adjusted earnings came in at $6.06 per share, 50 cents higher than Wall Street’s estimates.

Exxon posted profits for the quarter of $14.5 billion, more than doubling from about $7.1 billion in the same quarter last year. Adjusted earnings of $3.52 per share missed analyst estimates by 8 cents.

More details: http://cnb.cx/4cdgHmp

ExxonMobil and Chevron on Friday reported second-quarter profits that surged on rising oil prices due to the Iran war.

Chevron’s net income soared to $12 billion, a nearly 400% increase compared to $2.5 billion in the same period last year. Adjusted earnings came in at $6.06 per share, 50 cents higher than Wall Street’s estimates.

Exxon posted profits for the quarter of $14.5 billion, more than doubling from about $7.1 billion in the same quarter last year. Adjusted earnings of $3.52 per share missed analyst estimates by 8 cents.

More details: http://cnb.cx/4cdgHmp

Source:https://twitter.com/cnbc/status/2083186683109839067