HOUSTON (AP) — HOUSTON (AP) — Occidental Petroleum Corp. (OXY) on Tuesday reported first-quarter profit of $3.35 billion.
On a per-share basis, the Houston-based company said it had profit of $3.13. Earnings, adjusted to account for discontinued operations, were $1.06 per share.
The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 65 cents per share.
The oil and gas exploration and production company posted revenue of $5.11 billion in the period, which fell short of Street forecasts. Three analysts surveyed by Zacks expected $5.5 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 OXY at https://www.zacks.com/ap/OXY
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