HOUSTON (AP) — HOUSTON (AP) — Occidental Petroleum Corp. (OXY) on Tuesday reported first-quarter profit of $888 million.
The Houston-based company said it had net income of 75 cents per share. Earnings, adjusted to account for discontinued operations, were 65 cents per share.
The results surpassed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 56 cents per share.
The oil and gas exploration and production company posted revenue of $6.01 billion in the period, falling short of Street forecasts. Five analysts surveyed by Zacks expected $6.66 billion.
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