Jul 31, 2015 1 min read

SAN RAMON, Calif. (AP) — Chevron Corp. on Friday reported second-quarter earnings of $571 million.

On a per-share basis, the San Ramon, Calif.-based company said it had net income of 30 cents.

The results missed Wall Street expectations, but Chevron does not adjust its reported results based on one-time events such as asset sales. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $1.13 per share.

The oil company posted revenue of $40.36 billion in the period.

Chevron shares have decreased 17 percent since the beginning of the year, while the Standard & Poor’s 500 index has risen slightly more than 2 percent. The stock has dropped 30 percent in the last 12 months.