Hess: 2Q Earnings Snapshot
NEW YORK (AP) _ Hess Corp. (HES) on Wednesday reported a loss of $6 million in its second quarter.
On a per-share basis, the New York-based company said it had a loss of 2 cents. Losses, adjusted for non-recurring gains, came to 9 cents per share.
The results beat Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for a loss of 10 cents per share.
The oil and gas producer posted revenue of $1.7 billion in the period, also topping Street forecasts. Three analysts surveyed by Zacks expected $1.55 billion.
Hess shares have risen 53% since the beginning of the year, while the Standard & Poor’s 500 index has increased 20%. The stock has dropped 4% in the last 12 months.