HOUSTON (AP) _ Phillips 66 (PSX) on Tuesday reported fourth-quarter profit of $1.88 billion.

The Houston-based company said it had profit of $3.97 per share. Earnings, adjusted for non-recurring costs, came to $4 per share.

The results did not meet Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $4.34 per share.

The oil refiner posted revenue of $40.91 billion in the period, beating Street forecasts. Four analysts surveyed by Zacks expected $34.3 billion.

For the year, the company reported profit of $11.02 billion, or $23.27 per share. Revenue was reported as $175.7 billion.

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 https://www.zacks.com/ap/PSX

Copyright by Automated Insights, Inc. All rights reserved., source Associated Press News