Chevron: 4Q Earnings Snapshot
SAN RAMON, Calif. (AP) _ Chevron Corp. (CVX) on Friday reported fourth-quarter net income of $3.73 billion.
On a per-share basis, the San Ramon, California-based company said it had profit of $1.95. Earnings, adjusted for non-recurring costs, came to $2.06 per share.
The results exceeded 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 $1.87 per share.
The oil company posted revenue of $42.35 billion in the period, which also topped Street forecasts. Three analysts surveyed by Zacks expected $41.63 billion.
For the year, the company reported profit of $14.82 billion, or $7.74 per share. Revenue was reported as $166.34 billion.
Chevron shares have risen slightly more than 5 percent since the beginning of the year, while the Standard & Poor’s 500 index has risen nearly 8 percent. The stock has decreased 8.5 percent in the last 12 months.