SAN RAMON, Calif. (AP) — Chevron Corp. on Friday reported fourth-quarter net income of...
FILE - The logo for Chevron appears above a trading post on the floor of the New York Stock Exchange on Nov. 1, 2021. Shares of Chevron climbed Thursday, Jan. 26, 2023, after the oil company announced that it would repurchase $75 billion of its stock. SAN RAMON, Calif. — Chevron Corp. on Friday reported fourth-quarter net income of $6.35 billion.
The oil company posted revenue of $56.47 billion in the period, which topped Street forecasts. Six analysts surveyed by Zacks expected $52.27 billion. For the year, the company reported profit of $35.47 billion, or $18.28 per share. Revenue was reported as $246.25 billion. On a per-share basis, the San Ramon, California-based company said it had profit of $3.33. Earnings, adjusted for non-recurring costs, were $4.09 per share.
The results did not meet Wall Street expectations, but Chevron does not adjust its reported results based on one-time events such as asset sales. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $4.16 per share.
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