THE WOODLANDS, Texas (AP) _ Newfield Exploration Co. (NFX) on Tuesday reported second-quarter earnings of $119 million.

The The Woodlands, Texas-based company said it had net income of 59 cents per share. Earnings, adjusted for non-recurring costs, came to 94 cents per share.

The results exceeded Wall Street expectations. The average estimate of 14 analysts surveyed by Zacks Investment Research was for earnings of 81 cents per share.

The independent oil and gas company posted revenue of $679 million in the period, also surpassing Street forecasts. Ten analysts surveyed by Zacks expected $613.8 million.

Newfield shares have decreased almost 9 percent since the beginning of the year, while the Standard & Poor's 500 index has increased slightly more than 5 percent. In the final minutes of trading on Tuesday, shares hit $28.72, falling slightly in the last 12 months.


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