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Chevron: Q1 Earnings Snapshot

Associated Press Finance
·1-min read

SAN RAMON, Calif. (AP) — SAN RAMON, Calif. (AP) — Chevron Corp. (CVX) on Friday reported first-quarter profit of $5.5 billion.

On a per-share basis, the San Ramon, California-based company said it had profit of $2.97. Earnings, adjusted for non-recurring gains, came to $2.93 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 six analysts surveyed by Zacks Investment Research was for earnings of $2.84 per share.

The oil company posted revenue of $48.72 billion in the period, which fell short of Street forecasts. Four analysts surveyed by Zacks expected $49.94 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