OKLAHOMA CITY (AP) — OKLAHOMA CITY (AP) — Devon Energy Corp. (DVN) on Tuesday reported first-quarter net income of $120 million.
On a per-share basis, the Oklahoma City-based company said it had net income of 19 cents. Earnings, adjusted for non-recurring costs and restructuring costs, came to $1.04 per share.
The results beat Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $1 per share.
The oil and gas exploration company posted revenue of $3.81 billion in the period, which missed Street forecasts. Six analysts surveyed by Zacks expected $4.16 billion.
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