OKLAHOMA CITY (AP) — OKLAHOMA CITY (AP) — Devon Energy Corp. (DVN) on Wednesday reported first-quarter earnings of $596 million.
The Oklahoma City-based company said it had profit of 94 cents per share. Earnings, adjusted for non-recurring costs, came to $1.16 per share.
The results beat Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.10 per share.
The oil and gas exploration company posted revenue of $3.6 billion in the period, which did not meet Street forecasts. Six analysts surveyed by Zacks expected $3.62 billion.
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