WPX: 2Q Earnings Snapshot
TULSA, Okla. (AP) _ WPX Energy Inc. (WPX) on Monday reported second-quarter net income of $305 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the Tulsa, Oklahoma-based company said it had profit of 72 cents. Earnings, adjusted for non-recurring gains, were 9 cents per share.
The results beat Wall Street expectations. The average estimate of 15 analysts surveyed by Zacks Investment Research was for earnings of 7 cents per share.
The independent oil and gas company posted revenue of $695 million in the period, also topping Street forecasts. Twelve analysts surveyed by Zacks expected $577.6 million.
WPX shares have fallen 21% since the beginning of the year. In the final minutes of trading on Monday, shares hit $8.94, a decrease of 52% in the last 12 months.