Chevron Corp. Q1 Profit Decreases, but beats estimates

(RTTNews) - Chevron Corp. (CVX) revealed earnings for first quarter that decreased from the same period last year but beat the Street estimates.

The company's bottom line totaled $5.50 billion, or $2.97 per share. This compares with $6.57 billion, or $3.46 per share, in last year's first quarter.

Excluding items, Chevron Corp. reported adjusted earnings of $5.42 billion or $2.93 per share for the period.

Analysts on average had expected the company to earn $2.68 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 4.1% to $48.72 billion from $50.79 billion last year.

Chevron Corp. earnings at a glance (GAAP) :

-Earnings (Q1): $5.50 Bln. vs. $6.57 Bln. last year. -EPS (Q1): $2.97 vs. $3.46 last year. -Revenue (Q1): $48.72 Bln vs. $50.79 Bln last year.