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Chevron: 1Q Earnings Snapshot

Chevron: 1Q Earnings Snapshot

Associated Press

FILE - In this May 15, 2017, file photo, motorists pass a Chevron sign listing gas prices, in Miami Springs, Fla. Chevron Corp. reports financial results on Friday, April 26, 2019. (AP Photo/Alan Diaz, File)

SAN RAMON, Calif. (AP) -- Chevron Corp. on Friday reported first quarter profit of $2.65 billion.

On a per-share basis, the San Ramon, California-based company said it had profit of $1.39.

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 $1.26 per share.

The oil company posted revenue of $35.2 billion in the period, which fell short of Street forecasts. Three analysts surveyed by Zacks expected $37.89 billion.

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Chevron shares have risen slightly more than 8% since the beginning of the year, while the Standard & Poor's 500 index has climbed 17%. The stock has decreased roughly 4% in the last 12 months.

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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