Chevron Corp. Q1 Profit Increases, beats estimates

(RTTNews) - Chevron Corp. (CVX) revealed earnings for its first quarter that increased from last year and beat the Street estimates.

The company's bottom line totaled $6.57 billion, or $3.46 per share. This compares with $6.26 billion, or $3.22 per share, in last year's first quarter.

Excluding items, Chevron Corp. reported adjusted earnings of $6.74 billion or $3.55 per share for the period.

Analysts on average had expected the company to earn $3.41 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 6.6% to $50.79 billion from $54.37 billion last year.

Chevron Corp. earnings at a glance (GAAP) :

-Earnings (Q1): $6.57 Bln. vs. $6.26 Bln. last year. -EPS (Q1): $3.46 vs. $3.22 last year. -Analyst Estimate: $3.41 -Revenue (Q1): $50.79 Bln vs. $54.37 Bln last year.