Anadarko Petroleum posts 2Q profit, results beat Street expectations

IndustriesAssociated Press

Anadarko Petroleum Corp. on Tuesday reported second-quarter profit of $61 million.

The company, based in The Woodlands, Texas, said it had profit of 12 cents per share. Earnings, adjusted for non-recurring gains, came to 1 cent per share.

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The results beat Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for a loss of 53 cents per share.

The oil company posted revenue of $2.64 billion in the period, also surpassing Street forecasts. Eight analysts surveyed by Zacks expected $2.57 billion.

Anadarko Petroleum shares have decreased 12 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed roughly 2 percent. Its shares climbed 4 percent for the day to close at $72.85 Tuesday.

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Elements of this story were generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on APC at http://www.zacks.com/ap/APC

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Keywords: Anadarko Petroleum, Earnings Report