MIDLAND, Texas (AP) — MIDLAND, Texas (AP) — Diamondback Energy Inc. (FANG) on Monday reported second-quarter net income of $837 million.
On a per-share basis, the Midland, Texas-based company said it had profit of $4.66. Earnings, adjusted for non-recurring gains, came to $4.52 per share.
The results beat Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $4.46 per share.
The energy exploration and production company posted revenue of $2.48 billion in the period, which also topped Street forecasts. Seven analysts surveyed by Zacks expected $2.18 billion.
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