HOUSTON (AP) — HOUSTON (AP) — Chevron Corp. (CVX) on Friday reported first-quarter net income of $3.5 billion.
On a per-share basis, the Houston-based company said it had profit of $2. Earnings, adjusted for non-recurring costs, came to $2.18 per share.
The results beat 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 $2.15 per share.
The oil company posted revenue of $47.61 billion in the period, which missed Street forecasts. Three analysts surveyed by Zacks expected $48.66 billion.
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