Joshua Lipton, 04.27.07, 4:10 PM ET
Breaking up might be hard to do, as the song goes. But it can also boost profits in the short run and allow a company to concentrate on its core business, longer term. Both factors came into play for Chevron in the first quarter.
For the quarter ended March 31, the company told investors that it earned $4.7 billion, or $2.18 per share, up 17.5% from $4.0 billion, or $1.80 per share, for the similar period a year ago.
Revenue for the oil company actually dropped 12%, to $48.2 billion.