NEW YORK — Higher oil prices are making it easier for ConocoPhillips to complete a massive transformation this year.
The Houston-based company says profit rose 66.1 percent in the fourth quarter. Part of that came from the sale of assets, but the results also reflect the increased price Conoco got for oil compared with a year ago.
From October to December, Conoco earned $3.39 billion, or $2.56 per share, compared with $2.04 billion, or $1.39 per share a year earlier. Revenue increased 17.2 percent to $62.4 billion.
Excluding gains, earnings were $2.02 per share. Analysts had expected earnings of $1.77 per share on revenue of $45.1 billion.
Conoco has revamped its business through the sale of billions of dollars of assets. This year it plans to spin off its refinery business.
- Knocking doors: What to know before signing...
- Lawmakers looking to pump up gas tax this...
- Are you part of the global 'baby shortage'?
- Young adults prefer to share chores and...
- Nintendo opens 2015 with some big announcements
- Kimberly Rotter: 7 weird things that affect...
- Greek radical left wins election, threatening...
- EPA inventory highlights 'toxic' releases;...
- Lawmakers looking to pump up gas tax... 56
- Utah has fourth largest gender wage... 12
- Are you part of the global 'baby... 12
- Another study lists Salt Lake as one of... 10
- Obama idea to trim college savings... 6
- Does taking advantage of family leave... 4
- Greek radical left wins election,... 3
- Knocking doors: What to know before... 3