MIDLAND, Texas (AP) — MIDLAND, Texas (AP) — Diamondback Energy Inc. (FANG) on Monday reported first-quarter earnings of $25 million.
On a per-share basis, the Midland, Texas-based company said it had profit of 8 cents. Earnings, adjusted for one-time gains and costs, were $4.23 per share.
The results beat Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $3.55 per share.
The energy exploration and production company posted revenue of $4.24 billion in the period, also beating Street forecasts. Six analysts surveyed by Zacks expected $3.84 billion.
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