Chevron Corp. Q3 Profit Increases, beats estimates

(RTTNews) - Chevron Corp. (CVX) announced earnings for its third quarter that increased from the same period last year and beat the Street estimates.

The company's earnings came in at $11.23 billion, or $5.78 per share. This compares with $6.11 billion, or $3.19 per share, in last year's third quarter.

Excluding items, Chevron Corp. reported adjusted earnings of $10.78 billion or $5.56 per share for the period.

Analysts on average had expected the company to earn $4.81 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 49.0% to $66.64 billion from $44.71 billion last year.

Chevron Corp. earnings at a glance (GAAP) :

-Earnings (Q3): $11.23 Bln. vs. $6.11 Bln. last year. -EPS (Q3): $5.78 vs. $3.19 last year. -Analyst Estimate: $4.81 -Revenue (Q3): $66.64 Bln vs. $44.71 Bln last year.