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ConocoPhillips barely tops second-quarter expectations

Oil firm ConocoPhillips (NYSE: COP) reported second-quarter earnings of 87 cents per share this morning, barely edging the consensus estimate calling for 85 cents per share. Despite topping the consensus estimate, the results fell well short of last year's same-quarter earnings of $3.50 per share.

Quarterly revenue totaled $35.4 billion, which was less than half of the $71.4 billion earned a year ago. CEO and chairman Jim Mulva noted in the company's press release, "we delivered solid operational results during the quarter," despite lower commodity prices and margins in the second quarter.

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Last updated: May 27, 2012: 12:54 PM

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