Chevron's stock rises after profit beat as revenue falls short

Chevron Corp. CVX, +0.31% said Friday it had net income of $2.3 billion, or $1.22 a share, in the fourth quarter, down from $6.4 billion, or $3.33 a share, in the year-earlier period. Adjusted per-share earnings came to $3.45, ahead of the $3.19 FactSet consensus. Revenue fell to $47.180 billion from $56.473 billion a year ago, below the FactSet consensus of $50.926 billion. The net figure includes $1.8 billion of U.S. upstream impairment charges and $1.9 billion of decommissioning obligations from previou ...