Chesapeake Energy posts 3Q profit, results top Wall Street forecasts

MarketsAssociated Press

OKLAHOMA CITY (AP) — Chesapeake Energy Corp. (CHK) on Wednesday reported third-quarter earnings of $662 million.

On a per-share basis, the Oklahoma City-based company said it had profit of 26 cents. Earnings, adjusted for one-time gains and costs, were 38 cents per share.

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The results topped Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 32 cents per share.

The natural gas company posted revenue of $2.34 billion in the period, which also beat Street forecasts. Analysts expected $1.74 billion, according to Zacks.

Chesapeake shares have fallen 22 percent since the beginning of the year, while the Standard & Poor's 500 index has risen nearly 9 percent. The stock has dropped 26 percent in the last 12 months.

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This story was generated by Automated Insights using data from Zacks Investment Research. CHK stock research report from Zacks.

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Keywords:Chesapeake Energy,Earnings Report