Chevron Corp reported a 64 percent decline in quarterly profit on Friday as the second-largest U.S. oil company felt the impact of a sharp drop in oil and gas prices in the past year.

Net profit fell to $1.84 billion, or 92 cents per share, from $5.17 billion, or $2.48 per share, in the same quarter a year earlier. Revenue plunged 46 percent to $35 billion.

Analysts had on average expected the company to post earnings of 81 cents per share, according to Reuters Estimates.

The results come a day after larger rival Exxon Mobil Corp disappointed investors who had been growing accustomed to energy companies reporting better-than-expected profits despite the collapse in crude oil prices.

Shares in the company up less than 1 percent in pre-market trade on Friday.

(Reporting by Matt Daily, additional reporting by Braden Reddall in San Francisco; editing by John Wallace)

Chevron