ConocoPhillips: 4Q Earnings Snapshot
HOUSTON (AP) _ ConocoPhillips (COP) on Thursday reported fourth-quarter net income of $1.87 billion.
The Houston-based company said it had profit of $1.61 per share. Earnings, adjusted for non-recurring gains, came to $1.13 per share.
The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 99 cents per share.
The energy company posted revenue of $10.36 billion in the period.
For the year, the company reported net income of $6.26 billion, or $5.32 per share, swinging to a profit in the period. Revenue was reported as $38.73 billion.
ConocoPhillips shares have risen slightly more than 5 percent since the beginning of the year, while the Standard & Poor’s 500 index has climbed nearly 7 percent. The stock has risen 12 percent in the last 12 months.