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5 years ago
ConocoPhillips quarterly profit drops as prices, output weaken
July 25, 2012 / 12:12 PM / 5 years ago

ConocoPhillips quarterly profit drops as prices, output weaken

July 25 (Reuters) - Oil and gas producer ConocoPhillips posted a drop in second-quarter profit, hit by lower energy prices and a drop in oil and gas output.

Conoco, reporting earnings for the first time since shedding its refining and chemicals business, ported a profit of $2.3 billion, or $1.80 per share, compared with $3 .4 billion, or $2. 41 per share, in the same period a year ago.

Excluding one-time, earnings per share were $1.22, the company said. That topped the $1.17 that analysts on average had forecast, according to Thomson Reuters I/B/E/S. (Reporting By Matt Daily in New York and Anna Driver in Houston; editing by John Wallace)

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