Anadarko Petroleum misses 3Q net income expectations, tops revenue forecasts
Anadarko Petroleum Corp. (APC) on Tuesday reported earnings of $1.09 billion in its third quarter.
The Woodlands, Texas-based company said it had profit of $2.12 per share. Earnings, adjusted for non-recurring gains, came to $1.16 per share.
The results did not meet Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of $1.30 per share.
The oil company posted revenue of $5.01 billion in the period, which beat Street forecasts. Analysts expected $4.31 billion, according to Zacks.
Anadarko Petroleum shares have increased 14 percent since the beginning of the year, while the Standard & Poor's 500 index has increased slightly more than 7 percent. In the final minutes of trading on Tuesday, shares hit $90.35, a decrease of 6.5 percent in the last 12 months.
This story was generated by Automated Insights using data from Zacks Investment Research. APC stock research report from Zacks.
Keywords:Anadarko Petroleum,Earnings Report