Chevron: 3Q Earnings Snapshot
SAN RAMON, Calif. (AP) _ Chevron Corp. (CVX) on Friday reported third-quarter net income of $4.05 billion.
On a per-share basis, the San Ramon, California-based company said it had profit of $2.11.
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 seven analysts surveyed by Zacks Investment Research was for earnings of $2.06 per share.
The oil company posted revenue of $43.99 billion in the period, also beating Street forecasts. Three analysts surveyed by Zacks expected $42.79 billion.
Chevron shares have decreased 11 percent since the beginning of the year, while the Standard & Poor’s 500 index has increased 2 percent. The stock has fallen 4 percent in the last 12 months.