HOUSTON (AP) _ Phillips 66 (PSX) on Friday reported fourth-quarter profit of $1.27 billion.

The Houston-based company said it had profit of $2.88 per share. Earnings, adjusted for non-recurring costs, were $2.94 per share.

The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1.93 per share.

The oil refiner posted revenue of $33.57 billion in the period.

For the year, the company reported profit of $1.32 billion, or $2.97 per share. Revenue was reported as $114.85 billion.

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

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