Chevron Corp. Q4 Profit Decreases, but beats estimates

(RTTNews) - Chevron Corp. (CVX) revealed earnings for fourth quarter that decreased from last year but beat the Street estimates.

The company's bottom line came in at $2.259 billion, or $1.22 per share. This compares with $6.353 billion, or $3.33 per share, in last year's fourth quarter.

Excluding items, Chevron Corp. reported adjusted earnings of $6.453 billion or $3.45 per share for the period.

Analysts on average had expected the company to earn $3.21 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 16.5% to $47.180 billion from $56.473 billion last year.

Chevron Corp. earnings at a glance (GAAP) :

-Earnings (Q4): $2.259 Bln. vs. $6.353 Bln. last year. -EPS (Q4): $1.22 vs. $3.33 last year. -Analyst Estimates: $3.21 -Revenue (Q4): $47.180 Bln vs. $56.473 Bln last year.