ConocoPhillips Opens Earnings Season With 80% Slide in Profits

摘要

ConocoPhillips kicked off the latest earnings season on a somber note, as the first of the US majors to report disclosed that its first-quarter profits plummeted 80% while its revenues fell by one-quarter. Conoco reported net income of $840 million (56￠/share) for the quarter, down from $4.1 billion ($2.62/share) in the same period of last year. Revenues dropped 24% to $30.7 billion.