MIDLAND, Texas (AP) — MIDLAND, Texas (AP) — Diamondback Energy Inc. (FANG) on Monday reported second-quarter net income of $1.88 billion.
The Midland, Texas-based company said it had profit of $6.65 per share. Earnings, adjusted for non-recurring gains, came to $6.48 per share.
The results surpassed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $5.96 per share.
The energy exploration and production company posted revenue of $5.56 billion in the period, which also beat Street forecasts. Seven analysts surveyed by Zacks expected $4.76 billion.
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