OKLAHOMA CITY (AP) _ Continental Resources Inc. (CLR) on Tuesday reported second-quarter net income of $242.5 million, after reporting a loss in the same period a year earlier.

The Oklahoma City-based company said it had net income of 65 cents per share. Earnings, adjusted for asset impairment costs and non-recurring costs, came to 73 cents per share.

The results surpassed Wall Street expectations. The average estimate of 15 analysts surveyed by Zacks Investment Research was for earnings of 70 cents per share.

The independent oil and gas company posted revenue of $1.14 billion in the period, also exceeding Street forecasts. Eleven analysts surveyed by Zacks expected $1.13 billion.

Continental Resources shares have climbed 17 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $62.21, an increase of 89 percent in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CLR at https://www.zacks.com/ap/CLR