SAN RAMON, Calif. (AP) _ Chevron Corp. (CVX) on Friday reported second-quarter net income of $3.08 billion, after reporting a loss in the same period a year earlier.

On a per-share basis, the San Ramon, California-based company said it had profit of $1.60. Earnings, adjusted for non-recurring costs, came to $1.71 per share.

The results beat 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 $1.54 per share.

The oil company posted revenue of $37.6 billion in the period, also topping Street forecasts. Three analysts surveyed by Zacks expected $35.63 billion.

Chevron shares have climbed 21% since the beginning of the year, while the S&P's 500 index has climbed 18%. The stock has increased 14% in the last 12 months.

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

Copyright by Automated Insights, Inc. All rights reserved., source Associated Press News