HOUSTON (AP) — HOUSTON (AP) — Chevron Corp. (CVX) on Friday reported first-quarter earnings of $2.21 billion.
The Houston-based company said it had net income of $1.11 per share. Earnings, adjusted for non-recurring costs, came to $1.41 per share.
The results surpassed Wall Street expectations, but Chevron does not adjust its reported results based on one-time events such as asset sales. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 92 cents per share.
The oil company posted revenue of $48.61 billion in the period, also topping Street forecasts. Four analysts surveyed by Zacks expected $47.37 billion.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CVX at https://www.zacks.com/ap/CVX
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