SAN RAMON, Calif. (AP) - Chevron Corp. (CVX) on Friday reported third-quarter profit of $2.04 billion.
SAN RAMON, Calif. (AP) — Chevron Corp. (CVX) on Friday reported third-quarter profit of $2.04 billion.
On a per-share basis, the San Ramon, California-based company said it had net income of $1.09.
The results topped Wall Street expectations, but Chevron does not adjust its reported results based on one-time events such as asset sales. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 79 cents per share.
The oil company posted revenue of $34.32 billion in the period.
Chevron shares have declined 20 percent since the beginning of the year, while the Standard & Poor's 500 index has increased 1.5 percent. The stock has dropped 23 percent in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CVX at http://www.zacks.com/ap/CVX
Keywords: Chevron, Earnings Report