Chevron Corp.’s earnings rose more than 27-fold,...
From Times Wire Services
Chevron Corp.’s earnings rose more than 27-fold, mostly on special gains from asset sales.
Fourth-quarter net income reached $1.088 billion, or $3.30 per share, compared to 1991’s $39 million, or 11 cents per share. The fourth-quarter figures were swelled by a $546-million one-time gain, while the figures a year earlier were depressed by a $244-million charge, mostly for job cuts.
Without the special charges, the San Francisco company earned $542 million, or $1.64 per share, compared to $283 million, or 81 cents per share, in 1991’s fourth quarter. Revenue rose to $11.40 billion from $10.39 billion in the quarter.
Earnings, D10
