Diamondback: 2Q Earnings Snapshot
MIDLAND, Texas (AP) _ Diamondback Energy Inc. (FANG) on Wednesday reported second-quarter earnings of $219.1 million.
On a per-share basis, the Midland, Texas-based company said it had net income of $2.22. Earnings, adjusted for non-recurring gains, were $1.59 per share.
The results did not meet Wall Street expectations. The average estimate of 17 analysts surveyed by Zacks Investment Research was for earnings of $1.64 per share.
The energy exploration and production company posted revenue of $526.3 million in the period, topping Street forecasts. Thirteen analysts surveyed by Zacks expected $477.1 million.
Diamondback shares have risen 6 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $133.79, a rise of 41 percent in the last 12 months.