SAN RAMON, Calif. (AP) — SAN RAMON, Calif. (AP) — Chevron Corp. (CVX) on Friday reported fourth-quarter net income of $2.26 billion.

On a per-share basis, the San Ramon, California-based company said it had profit of $1.22. Earnings, adjusted for non-recurring costs, came to $3.45 per share.

The results exceeded 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 $3.29 per share.

The oil company posted revenue of $47.18 billion in the period, which fell short of Street forecasts. Six analysts surveyed by Zacks expected $52.59 billion.

For the year, the company reported profit of $21.37 billion, or $11.36 per share. Revenue was reported as $200.95 billion.

_____

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

For copyright information, check with the distributor of this item, STATS Perform dba Automated Insights. , source Associated Press News