UPDATE: Occidental Petroleum Reports 71% Surge In FQ2 Profit

Occidental Petroleum Corp OXY reported a 71% rise in its fiscal second-quarter profit. OXY's quarterly earnings surged to $1.82 billion, or $2.23 per share, from $1.06 billion, or $1.32 per share, in the year-earlier period. Its total revenue climbed 34% y/y to $6.17 billion. Analysts were expecting earnings of $2.18 per share on revenue of $5.88 billion. OXY shares dropped 0.34% to $107.00 in pre-market trading.