Have you been eager to see how U.S. energy giant Chevron Corp. (CVX – Free Report) performed in Q3 in comparison with the market expectations? Let’s quickly scan through the key facts from this San Ramon, CA-based company’s earnings release this morning:

About Chevron: Chevron is one of the largest publicly traded oil and gas companies in the world, based on proved reserves. It is engaged in oil and gas exploration and production, refining and marketing of petroleum products, manufacturing of chemicals, and other energy-related businesses.

Zacks Rank & Surprise History: Currently, Chevron has a Zacks Rank #2 (Buy) but that could change following its third quarter 2016 earnings report which has just released. 

Coming to earnings surprise history, the company has a mixed record: its missed estimates in 2 of the last four quarters resulting in an average negative surprise of 50.30%.

CHEVRON CORP Price and EPS Surprise

CHEVRON CORP Price and EPS Surprise | CHEVRON CORP Quote

Estimate Revision Trend: Investors should note that the earnings estimate revisions for Chevron depicted pessimism prior to the earnings release. The Zacks Consensus Estimate fell 9% over the last 30 days.

We have highlighted some of the key details from the just-released announcement below:

A Higher-than-Expected Profit: Earnings per share came in at 68 cents, higher than the Zacks Consensus Estimate of 39 cents. Lower costs led to the outperformance.

Revenue Came in Higher than Expected: Chevron posted revenues of $30,140 million, just ahead of the Zacks Consensus Estimate of $30,057 million.

Key Stats: Chevron’s total production of crude oil and natural gas edged down 1% from the year-earlier level to 2,513 thousand oil-equivalent barrels per day (MBOE/d). The U.S. output decreased 4% year over year to 698 MBOE/d, while the company’s international operations (accounting for 72% of the total) remained essentially flat at 1,815 MBOE/d.