Chevron Corp. on Friday reported first quarter profit of $2.65 billion.
Continue Reading Below
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.
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.
_____
Advertisement
This story was generated by Automated Insights using data from Zacks Investment Research. Access a Zacks stock report on CVX at https://www.zacks.com/ap/CVX
