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Chevron and Exxon Double Q2 Profits — Analyst Breaks Down Results
James West of Melius Research analyzes Chevron and Exxon’s Q2 earnings surge and implications for energy markets on BNN Bloomberg.
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What stands out
On BNN Bloomberg, James West of Melius Research laid out why Chevron and Exxon look to have roughly doubled profits in the second quarter (Q2), a headline that briefly refocused investors on oil majors' cash generation. The segment matters because those quarterly spikes can lift stocks even when the underlying business is weaker, and recent GDELT headlines about a Saudi pipeline shutdown and Iran-related price risk explain how geopolitics can quickly swing energy earnings. For Chevron, consensus averages behind the scenes show revenue and net income are slipping year-over-year.