Chevron U.S. revenue weak

Investor's Business Daily

The energy giant said Q1 EPS fell 2.8% to $3.18, beating views by 10 cents. U.S. upstream earnings, which include drilling and exploration, fell 26% to $1.13 bil on lower crude oil prices and higher operating expenses. Int'l upstream earnings rose 4% to $4.8 bil on lower exploration. Chevron's (CVX) U.S. downstream results, which include revenue from refining and marketing, fell more than 70%. Work on a refinery in Miss. and a fire at a refinery in Richmond, Calif., hit results. Shares rose 1.3% to 120.04.

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