MIDLAND, Texas (AP) — MIDLAND, Texas (AP) — Diamondback Energy Inc. (FANG) on Monday reported third-quarter net income of $1.02 billion.
On a per-share basis, the Midland, Texas-based company said it had net income of $3.51. Earnings, adjusted for one-time gains and costs, came to $3.08 per share.
The results beat Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $2.85 per share.
The energy exploration and production company posted revenue of $3.92 billion in the period, also surpassing Street forecasts. Seven analysts surveyed by Zacks expected $3.46 billion.
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