US oil major ChevronTexaco Corp released its second quarter earnings, which increased much because of high oil prices.
The company saw its net income climb to $4.13 billion ($3.88 per share) from $1.6 billion ($1.50) a year earlier.
"This was an absolute blowout quarter," said George Gaspar, an analyst for Robert W. Baird & Co., who owns no shares of ChevronTexaco. "I don't think there's any other way to describe it."
The company's bottom line was boosted in part by a $585 million gain from the sale of some Canadian assets and a $255 million benefit from income-tax law changes in connection with some of its international properties.
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ChevronTexaco Profit To Triple
"This was an absolute blowout quarter," said an analyst ..
