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ConocoPhillips Shares Advance On Strong Q2 Revenue

4 24 1
08.08.2022

A day after reporting better-than-expected second-quarter results, ConocoPhillips (NYSE: COP) rallied more than 3%, outpacing the S&P 500, which declined in the session. Other big integrated oil-and-gas companies, such as BP (NYSE: BP) also posted gains.

The Houston-based company, which is integrated in the areas of exploration, production and distribution, earned $3.91 per share in the quarter, a 208% gain over $1.27 per share a year ago. Revenue was $22 billion, up 115% over the quarter ended in June 2021.

On an adjusted basis, earnings fell below expectations of $3.95 per share, according to MarketBeat earnings data, but before adjustments, net income came in at $3.96 per share, higher than views.

The company topped analysts' expectations for........

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