NEW YORK (AP) -- ConocoPhillips says net income fell 33 percent in the second quarter as oil prices fell and it shed its refining and pipelines business.
Its results still beat Wall Street estimates, and the company's stock price rose slightly in premarket trading.
The Houston company earned $2.27 billion, or $1.80 per share, in the quarter. That compared with $3.4 billion, or $2.41, a year earlier, when Conoco still owned refineries and pipelines.
Revenue fell 14 percent to $ 15.17 billion.
Excluding special items, ConocoPhillips earned $1.22. Analysts expected earnings of $1.20 per share on revenue of $9.06 billion, according to FactSet.
Source: http://news.yahoo.com/conocophillips-2q-profit-falls-33-122642445.html
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