HOUSTON (AP) _ Phillips 66 (PSX) on Tuesday reported second-quarter net income of $296 million, after reporting a loss in the same period a year earlier.

On a per-share basis, the Houston-based company said it had profit of 66 cents. Earnings, adjusted for non-recurring costs, came to 74 cents per share.

The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 71 cents per share.

The oil refiner posted revenue of $27.89 billion in the period.

Phillips 66 shares have climbed 5% since the beginning of the year, while the S&P's 500 index has climbed 17%. The stock has increased 18% 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 PSX at https://www.zacks.com/ap/PSX

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