Valero Energy Corp. has reported second-quarter net income of $548 million.
The San Antonio-based company said Thursday that it had profit of $1.23 per share.
The results exceeded Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $1.08 per share.
The oil refiner posted revenue of $22.25 billion in the period, also exceeding Street forecasts. Three analysts surveyed by Zacks expected $21.53 billion.
Valero Energy shares have dropped slightly since the beginning of the year, while the Standard & Poor's 500 index has risen 11 percent.
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