SAN ANTONIO (AP) _ Valero Energy Corp. (VLO) on Thursday reported second-quarter net income of $1.25 billion.

On a per-share basis, the San Antonio-based company said it had profit of $3.07. Losses, adjusted for non-recurring gains, came to $1.25 per share.

The results exceeded Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for a loss of $1.42 per share.

The oil refiner posted revenue of $10.4 billion in the period, falling short of Street forecasts. Three analysts surveyed by Zacks expected $15.81 billion.

Valero Energy shares have declined 36% since the beginning of the year, while the Standard & Poor's 500 index has risen almost 1%. The stock has fallen 29% 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 VLO at https://www.zacks.com/ap/VLO

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