Hey, hey! Happy times at Chevron headquarters, located at 10 Satan Street in a secret city that hovers out of sight behind storm clouds. The company's fourth quarter profits will be "notably higher" than third quarter profits! (Third quarter revenues for the company were only $56 billion. Sad face.)
The outline given by the second-largest U.S. oil producer by market value hints at a bright succession of earnings reports when the world’s biggest publicly traded energy producers begin releasing results in coming weeks, said Brian Youngberg, an analyst at Edward Jones & Co. in St. Louis.
“Chevron’s results certainly provide an optimistic preview of what its peers in the integrated energy sector have in store,” Youngberg said in a telephone interview yesterday.
Hooray! Optimism in these dark times. Refreshing.