SAN RAMON, Calif. (AP) _ Chevron Corp. (CVX) on Friday reported a second-quarter loss of $8.27 billion, after reporting a profit in the same period a year earlier.
The San Ramon, California-based company said it had a loss of $4.44 per share. Losses, adjusted for non-recurring costs, were $1.59 per share.
The results fell short of Wall Street expectations, but Chevron does not adjust its reported results based on one-time events such as asset sales. The average estimate of seven analysts surveyed by Zacks Investment Research was for a loss of 93 cents per share.
The oil company posted revenue of $13.49 billion in the period, which also did not meet Street forecasts. Three analysts surveyed by Zacks expected $20.49 billion.
Chevron shares have declined 28% since the beginning of the year, while the Standard & Poor's 500 index has stayed nearly flat. The stock has declined 31% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CVX at https://www.zacks.com/ap/CVX
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