SAN RAMON (dpa-AFX) - (Adds dividend)
Chevron Corp. (CVX) revealed earnings for first quarter that decreased from the same period last year but beat the Street estimates.
The company's bottom line totaled $5.50 billion, or $2.97 per share. This compares with $6.57 billion, or $3.46 per share, in last year's first quarter.
Excluding items, Chevron Corp. reported adjusted earnings of $5.42 billion or $2.93 per share for the period.
Analysts on average had expected the company to earn $2.68 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter fell 4.1% to $48.72 billion from $50.79 billion last year.
Dividend
The company's Board of Directors declared a quarterly dividend of $1.63 per share, payable June 10, to all holders of common stock at the close of business on May 17.
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