ConocoPhillips' Q2 Earnings Fall Short Despite Record Production
TL;DR
ConocoPhillips, a US oil and gas producer, reported lower-than-expected quarterly profit due to weak oil and gas prices. However, the company slightly raised its full-year output expectations, with a 6% increase in production to 1.81 million barrels of oil and gas per day. ConocoPhillips also narrowed its capital spending guidance range and noted some deflation in oilfield service costs. Despite the earnings miss, shares rose 1% in midday trading.
- ConocoPhillips misses on quarterly profit, hikes full year production forecast marginally Yahoo Finance
- Clorox earnings, Etsy guidance, ConocoPhillips revenue: Trending tickers Yahoo Finance
- ConocoPhillips Reports Second-Quarter 2023 Results; Raises Full-Year Production Guidance and Declares Quarterly Dividend and Variable Return of Cash Distribution ConocoPhillips
- ConocoPhillips Misses Earnings Expectations Despite Record Production Investopedia
- ConocoPhillips stock falls after profit, revenue miss expectations as realized prices tumbled 38% MarketWatch
- View Full Coverage on Google News
Want the full story? Read the original reporting
Read on Yahoo Finance