HOUSTON (AP) — HOUSTON (AP) — Chevron Corp. (CVX) on Friday reported fourth-quarter net income of $2.77 billion.
On a per-share basis, the Houston-based company said it had profit of $1.39. Earnings, adjusted for non-recurring costs, were $1.52 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 seven analysts surveyed by Zacks Investment Research was for earnings of $1.44 per share.
The oil company posted revenue of $46.87 billion in the period, missing Street forecasts. Four analysts surveyed by Zacks expected $51.43 billion.
For the year, the company reported profit of $12.3 billion, or $6.63 per share. Revenue was reported as $189.03 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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