Chevron Posts $9.92 Billion Q3 Profit, Tops Wall Street Estimates on Earnings and Revenue

Chevron Corp. (CVX) on Friday reported third-quarter profit of $9.92 billion, beating analyst forecasts on both earnings and revenue. The Houston-based oil company earned $5.06 per share, or $5.28 per share adjusted for pretax expenses. The average estimate of seven analysts surveyed by Zacks Investment Research was $4.78 per share. Chevron does not adjust its reported results for one-time events such as asset sales. Revenue for the period was $67.8 billion, topping the $60.49 billion expected by five analysts surveyed by Zacks. The company did not disclose figures for the prior-year quarter in the report.