Chevron Corp. Q1 Profit Decreases, But Beats Estimates

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

The company's bottom line came in at $3.500 billion, or $2.00 per share. This compares with $5.501 billion, or $2.97 per share, last year.

Excluding items, Chevron Corp. reported adjusted earnings of $3.813 billion or $2.18 per share for the period.

Analysts on average had expected the company to earn $2.15 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period fell 2.3% to $47.610 billion from $48.716 billion last year.

Chevron Corp. earnings at a glance (GAAP) :

-Earnings: $3.500 Bln. vs. $5.501 Bln. last year. -EPS: $2.00 vs. $2.97 last year. -Revenue: $47.610 Bln vs. $48.716 Bln last year.