DENVER (AP) — DENVER (AP) — Antero Resources Corp. (AR) on Wednesday reported first-quarter profit of $36.3 million.
The Denver-based company said it had net income of 12 cents per share. Earnings, adjusted for non-recurring gains, were 7 cents per share.
The results exceeded Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 4 cents per share.
The oil and natural gas producer posted revenue of $1.12 billion in the period, also surpassing Street forecasts. Six analysts surveyed by Zacks expected $1.08 billion.
Antero Resources shares have increased 39% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $31.44, a rise of 37% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AR at https://www.zacks.com/ap/AR
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