ConocoPhillips Profit Soars

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ConocoPhillips on Wednesday beat expectations by reporting a 50 percent jump in fourth-quarter profit, carried along by soaring oil and gas prices.


Fourth-quarter net income rose to $3.68 billion ($2.61 a share), compared with $2.43 billion ($1.72) a year earlier. Excluding discontinued operations, the company reported a profit of $2.69 a share. Analysts on average expected a profit of $2.65 a share. The results capped the best year for profit in ConocoPhillips’ history.


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