HOUSTON (AP) — HOUSTON (AP) — APA Corporation (APA) on Wednesday reported second-quarter earnings of $747 million.
The Houston-based company said it had profit of $2.11 per share. Earnings, adjusted for non-recurring gains, were $1.89 per share.
The results exceeded Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.85 per share.
The oil and natural gas producer posted revenue of $2.4 billion in the period, which did not meet Street forecasts. Five analysts surveyed by Zacks expected $2.43 billion.
APA shares have risen 41% since the beginning of the year, while the S&P’s 500 index has increased 13%. In the final minutes of trading on Wednesday, shares hit $34.61, a rise of 86% 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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