Last Friday (31), Chevron reported a net loss of US$ 8.3 billion (or US$ 4.44 per share) in the second quarter of 2020. In the same period in 2019, the second-largest U.S. oil company had posted earnings of $4.3 billion, or $2.27 per share.
Considering the adjustments, Chevron lost $1.59 per stock between April and June. In addition, the company’s revenue fell 55.5% annually last quarter to $16 billion. The damage would reflect the drop in oil prices and demand that was affected during the pandemic.