ConocoPhillips Reports Second-Quarter Net Income of $5.4 Billion or $3.50 Per Share.

Business Wire › July 23, 2008

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ConocoPhillips Reports Second-Quarter Net Income of $5.4 Billion or $3.50 Per Share.

HOUSTON -- ConocoPhillips (NYSE:COP):

[TABLE OMITTED] ConocoPhillips (NYSE:COP) today reported second-quarter net income of $5,439 million, or $3.50 per share. This compared with $301 million, or $0.18 per share, for the same quarter in 2007, which included a $4,512 million impairment associated with the company's Venezuelan operations. Second-quarter 2007 earnings adjusted for the Venezuela impairment were $4,813 million, or $2.90 per share. Revenues were $71.4 billion, versus $47.4 billion a year ago.

"During the second quarter, we produced 2.2 million BOE per day, including an estimated 0.4 million BOE per day from our LUKOIL Investment segment," said Jim Mulva, chairman and chief executive officer. "In the downstream business, our worldwide refining crude oil capacity utilization rate improved to 93 percent.

"We generated $5.4 billion of cash from operations durin...

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