The San Ramon, Calif. oil giant on Friday reported net income of $5.12 billion, or $2.58 per share, in the final three months of 2011. That compares with $5.3 billion, or $2.64 per share, in the same part of 2010. Revenue increased 11.9 per cent to $60 billion.
The results fell short of Wall Street profit forecasts of $2.86 per share, according to FactSet.
For the full year, Chevron Corp. earned $26.9 billion, or $13.44 per share, compared with $19 billion, or $9.48 per share in 2010. Annual revenue increased 23.3 per cent to $253.7 billion.