Unocal Corp. said second-quarter earnings jumped 69%...

Unocal Corp. said second-quarter earnings jumped 69% as cost-cutting and higher natural gas prices offset a 21% drop in revenue. Net income was $88 million, or about 33 cents a share, compared to profit from operations of $52 million, or 22 cents, a year earlier. Per-share results in the most recent quarter reflect the payment of preferred dividends totaling $9 million. No preferred dividends were paid in the year-earlier period. In the 1992 quarter, a gain of $14 million resulted in net income of $66 million, or 28 cents a share. Revenue fell to $2.1 billion from $2.67 billion.