HOUSTON (AP) — HOUSTON (AP) — Phillips 66 (PSX) on Wednesday reported first-quarter profit of $207 million.

The Houston-based company said it had profit of 51 cents per share. Earnings, adjusted for non-recurring gains, were 49 cents per share.

The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of 55 cents per share.

The oil refiner posted revenue of $33 billion in the period, also beating Street forecasts. Four analysts surveyed by Zacks expected $29.53 billion.

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