Chevron (NYSE:CVX) reported Q2 adjusted earnings Friday of $3.08 per diluted share, down from $5.82 a year earlier.
Analysts polled by Capital IQ expected $2.98.
Revenue for the quarter ended June 30 was $48.90 billion compared with $68.76 billion a year earlier.
Analysts surveyed by Capital IQ estimated $48.00 billion.
Chevron said its board declared a quarterly dividend of $1.51 per share, payable Sept. 11 to shareholders on record as of Aug. 18.