Chevron Corp. Q3 Profit Decreases, misses estimates

(RTTNews) - Chevron Corp. (CVX) announced earnings for third quarter that decreased from last year and missed the Street estimates.

The company's bottom line came in at $6.53 billion, or $3.48 per share. This compares with $11.23 billion, or $5.78 per share, in last year's third quarter.

Excluding items, Chevron Corp. reported adjusted earnings of $5.72 billion or $3.05 per share for the period.

Analysts on average had expected the company to earn $3.33 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 18.8% to $54.08 billion from $66.64 billion last year.

Chevron Corp. earnings at a glance (GAAP) :

-Earnings (Q3): $6.53 Bln. vs. $11.23 Bln. last year. -EPS (Q3): $3.48 vs. $5.78 last year. -Analyst Estimates: $3.33 -Revenue (Q3): $54.08 Bln vs. $66.64 Bln last year.