Chevron profits skyrocket

| 4/28/2006

Add Chevron to the list of oil companies reporting high-flying first quarter profits for 2006.

Reuters reported that the oil giant’s net income in the first quarter rose to $4 billion, up from $2.7 billion for the same time period in 2005.

Chevron’s revenue, meanwhile, jumped more than $13 billion to $54.62 billion in the first quarter of 2006 from $41.61 billion in 2005.

That puts Chevron second only to ExxonMobil, which posted a net income of $8.4 billion and revenues of $88.98 billion on Thursday, April 28.