Noble: 2Q Earnings Snapshot
HOUSTON (AP) _ Noble Energy Inc. (NBL) on Friday reported a loss of $23 million in its second quarter.
On a per-share basis, the Houston-based company said it had a loss of 5 cents. Earnings, adjusted for non-recurring costs, came to 17 cents per share.
The results fell short of Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of 24 cents per share.
The oil and gas company posted revenue of $1.23 billion in the period, topping Street forecasts. Eight analysts surveyed by Zacks expected $1.13 billion.
Noble shares have climbed 23 percent since the beginning of the year, while the Standard & Poor’s 500 index has risen roughly 6 percent. The stock has increased 27 percent in the last 12 months.