Conoco boosts investments – the tariff war is costly

ConocopPhillips boosts its investments and intends to spend USD 6 billion in 2018.

Photo: ConocoPhillips

ConocoPhillips' equity is barely moving after the presentation of its quarterly financial statement. A lower-than-expected sales volume is not enough to make investors nervous, as revenue landed near analysts' consensus. Share price growth at 0.4 percent was modest.

The oil company ended Q2 with adjusted earnings per share at USD 1.09, whereas sales landed at USD 8.5 billion. According to Bloomberg, equity analysts had expected earnings per share at USD 1.08 and sales at USD 10.05 billion.

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