Chevron says profits jumped more than 9% in the first quarter as higher oil prices made up for weakness on the refining and chemicals side of its business.
The second-largest U.S. oil company earned $5.17 billion, or $2.48 per share, up from $4.72 billion, or $2.18, a year earlier.
Analysts expected the company to earn $2.41 per share, according to a survey by Thomson Financial.
San Ramon, Calif.-based Chevron (CVX, Fortune 500) says revenue rose to $65.95 billion, from $48.23 billion payday loans in one hour. Analysts predicted revenue of $75.64 billion, according to Thomson.
Chevron produced the equivalent of 2.6 million barrels of oil a day in the quarter, down 44,000 from a year ago.
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