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Phillips 66 posts 2Q profit of $1.01 billion, result tops expectations

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HOUSTON — Phillips 66 (PSX) on Friday reported second-quarter net income of $1.01 billion.

The Houston-based company said it had net income of $1.84 per share. Earnings, adjusted for non-recurring gains, were $1.83 per share.

The results beat Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.81 per share.

The oil refiner posted revenue of $29.08 billion in the period.

Phillips 66 shares have risen 10 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed slightly more than 2 percent. The stock has dropped 3 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PSX at http://www.zacks.com/ap/PSX

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Keywords: Phillips 66, Earnings Report

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