HOUSTON (AP) — HOUSTON (AP) — APA Corporation (APA) on Wednesday reported second-quarter earnings of $541 million.
On a per-share basis, the Houston-based company said it had net income of $1.46. Earnings, adjusted for non-recurring gains, were $1.17 per share.
The results surpassed Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 95 cents per share.
The oil and natural gas producer posted revenue of $2.79 billion in the period, also beating Street forecasts. Six analysts surveyed by Zacks expected $2.31 billion.
APA shares have fallen 12% since the beginning of the year, while the S&P’s 500 index has risen 16%. In the final minutes of trading on Wednesday, shares hit $31.45, a decrease of 22% 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 APA at https://www.zacks.com/ap/APA
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