SAN RAMON, Calif. (AP) _ Chevron Corp. (CVX) on Friday reported fourth-quarter net income of $5.06 billion, after reporting a loss in the same period a year earlier.

The San Ramon, California-based company said it had net income of $2.63 per share. Earnings, adjusted for non-recurring gains, came to $2.56 per share.

The results fell short of Wall Street expectations, but Chevron does not adjust its reported results based on one-time events such as asset sales. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $3.11 per share.

The oil company posted revenue of $48.13 billion in the period, beating Street forecasts. Three analysts surveyed by Zacks expected $45.01 billion.

For the year, the company reported net income of $15.63 billion, or $8.14 per share, swinging to a profit in the period. Revenue was reported as $162.47 billion.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CVX at https://www.zacks.com/ap/CVX

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