WPX: 2Q Earnings Snapshot
TULSA, Okla. (AP) _ WPX Energy Inc. (WPX) on Wednesday reported a second-quarter loss of $81 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the Tulsa, Oklahoma-based company said it had a loss of 21 cents. Earnings, adjusted for non-recurring costs and to account for discontinued operations, were 6 cents per share.
The results exceeded Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of 2 cents per share.
The independent oil and gas company posted revenue of $430 million in the period, missing Street forecasts. Ten analysts surveyed by Zacks expected $446.1 million.
WPX shares have increased 30 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $18.30, an increase of 69 percent in the last 12 months.