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Q2 FY2026 EarningsQ2 FY2026 results significantly beat consensus estimates across the board: revenue of $67.2B beat expectations by 11.3%, while Diluted EPS of $6.11 exceeded the $5.60 consensus mean. Net income was driven by a 201% YoY increase in Upstream earnings to $8.2B, fueled by higher realizations and the integration of Hess Corporation. Management achieved its $3B structural cost reduction target early and provided a positive outlook with ongoing share repurchases of $2.5-$3.0B planned for Q3.