HOUSTON (AP) — HOUSTON (AP) — Chevron Corp. (CVX) on Friday reported second-quarter profit of $2.49 billion.
The Houston-based company said it had net income of $1.45 per share. Earnings, adjusted for non-recurring costs, came to $1.77 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 $1.70 per share.
The oil company posted revenue of $44.82 billion in the period, which did not meet Street forecasts. Three analysts surveyed by Zacks expected $47.12 billion.
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