Chevron Corporation (NYSE: CVX) Stock: Surges as Microsoft Deal and $12.1 Billion Profit Boost Confidence
TLDR
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Chevron stock gains as quarterly profit climbs sharply to $12.1 billion overall.
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Microsoft signs a 20-year deal for 2.67 gigawatts of Chevron power capacity.
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Chevron reduces total debt by a record $8.4 billion during the second quarter.
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Hess assets help Chevron lift total production by 20% from the prior-year level.
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Free cash flow rises to $18.1 billion as refining margins strengthen sharply.
Chevron Corporation (CVX) stock rose 1.54% before Friday’s open to $195.53, after closing 0.23% higher at $192.31. Stronger production, refining margins, and commodity prices supported Chevron’s $12.1 billion second-quarter profit. The Microsoft power agreement strengthened Chevron’s growth outlook beyond traditional oil and gas operations.
Chevron Stock Gains After Earnings Surge
Chevron earned $6.11 per diluted share, compared with $1.45 one year earlier. Adjusted earnings reached $12.0 billion, while adjusted earnings per share rose to $6.06. The quarter included a $230 million asset sale gain and $86 million in pension costs.
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