HOUSTON (AP) — HOUSTON (AP) — Occidental Petroleum Corp. (OXY) on Monday reported fourth-quarter earnings of $1.93 billion.
The Houston-based company said it had net income of $1.74 per share. Earnings, adjusted for non-recurring gains, came to $1.61 per share.
The results did not meet Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.83 per share.
The oil and gas exploration and production company posted revenue of $8.33 billion in the period, which also did not meet Street forecasts. Five analysts surveyed by Zacks expected $8.67 billion.
For the year, the company reported profit of $13.3 billion, or $12.40 per share. Revenue was reported as $37.1 billion.
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