Phillips 66: 2Q Earnings Snapshot

HOUSTON (AP) _ Phillips 66 (PSX) on Friday reported second-quarter profit of $1.34 billion.

On a per-share basis, the Houston-based company said it had profit of $2.84. Earnings, adjusted for non-recurring gains, came to $2.80 per share.

The results topped Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $2.16 per share.

The oil refiner posted revenue of $29.74 billion in the period, also topping Street forecasts. Three analysts surveyed by Zacks expected $29.4 billion.

Phillips 66 shares have risen 15 percent since the beginning of the year, while the Standard & Poor’s 500 index has risen 6 percent. The stock has risen 39 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PSX at https://www.zacks.com/ap/PSX