Shares of ExxonMobil and Chevron are up year-to-date, but both reported lower second-quarter profits due to falling oil prices. ExxonMobil’s net income declined 23% to $7.08 billion, while Chevron’s dropped 44% to $2.49 billion. Adjusted earnings beat estimates, but revenue forecasts were missed. Chevron’s results were impacted by a $215 million loss on the fair market value of Hess shares. Shares of both companies are slightly down in recent trading.

Read more at Yahoo Finance: ExxonMobil, Chevron Profits Slump on Falling Oil Prices