Now: 2Q Earnings Snapshot
HOUSTON (AP) _ Now Inc. (DNOW) on Thursday reported second-quarter net income of $14 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the Houston-based company said it had net income of 12 cents. Earnings, adjusted for non-recurring gains, came to 10 cents per share.
The results beat Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 3 cents per share.
The energy and industrial distribution company posted revenue of $777 million in the period, also surpassing Street forecasts. Eight analysts surveyed by Zacks expected $760.8 million.
Now shares have risen 33 percent since the beginning of the year. The stock has declined 6.5 percent in the last 12 months.