Energy exploration company Chevron Corporation (NYSE: CVX) announced third-quarter 2023 financial results, reporting a sharp fall in net profit and revenues.
Net income attributable to Chevron Corporation was $6.53 billion or $3.48 per share in the third quarter, compared to $11.23 billion or $5.78 per share last year. Adjusted profit decreased 45% year-over-year to $3.05 per share.
Total revenues and other income were $54.08 billion in the September quarter, down 19% from $66.64 billion reported in the year-ago quarter.
“Chevron is delivering strong financial results while also investing to profitably grow our traditional and new energy businesses to drive superior value for shareholders,” said Mike Wirth, Chevron’s chief executive officer.