Chevron Corp. Q1 Profit Increases, beats estimates

(RTTNews) - Chevron Corp. (CVX) reported a profit for its first quarter that increased from the same period last year and beat the Street estimates.

The company's bottom line totaled $6.26 billion, or $3.22 per share. This compares with $1.38 billion, or $0.72 per share, in last year's first quarter.

Excluding items, Chevron Corp. reported adjusted earnings of $6.54 billion or $3.36 per share for the period.

Analysts on average had expected the company to earn $3.27 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 69.7% to $54.37 billion from $32.03 billion last year.

Chevron Corp. earnings at a glance (GAAP) :

-Earnings (Q1): $6.26 Bln. vs. $1.38 Bln. last year. -EPS (Q1): $3.22 vs. $0.72 last year. -Analyst Estimate: $3.27 -Revenue (Q1): $54.37 Bln vs. $32.03 Bln last year.