Chevron Beats Estimates as Hess Deal Helps Boost Oil Production

Chevron Corp. beat earnings estimates as profits from the $53 billion Hess Corp. acquisition were included in the results for the first time, boosting oil production and cash flow. Adjusted, third-quarter earnings of $1.85 a share exceeded the $1.66 average forecast in a Bloomberg survey of analysts. Net income of $3.6 billion was 20% lower than a year earlier. The US driller joined European rival Shell Plc in posting stronger-than-expected results. Most Read from Bloomberg International oil prices are ...