Chevron Corp. Q1 adjusted earnings Inline With Estimates

(RTTNews) - Chevron Corp. (CVX) announced earnings for first quarter that dropped from the same period last year.

The company's earnings came in at $1.38 billion, or $0.72 per share. This compares with $3.60 billion, or $1.93 per share, in last year's first quarter.

Excluding items, Chevron Corp. reported adjusted earnings of $1.73 billion or $0.90 per share for the period.

Analysts had expected the company to earn $0.90 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 1.7% to $32.03 billion from $31.50 billion last year.

Chevron Corp. earnings at a glance:

-Earnings (Q1): $1.73 Bln. vs. $2.45 Bln. last year. -EPS (Q1): $0.90 vs. $1.31 last year. -Analysts Estimate: $0.90 -Revenue (Q1): $32.03 Bln vs. $31.50 Bln last year.