THE WOODLANDS, Texas (AP) _ Anadarko Petroleum Corp. (APC) on Monday reported a loss of $ 1.03 billion in its first quarter.
The The Woodlands, Texas-based company said it had a loss of $ 2.03 per share. Losses, adjusted for non-recurring costs and restructuring costs, came to $ 1.12 per share.
The results beat Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for a loss of $ 1.19 per share.
The oil company posted revenue of $ 1.67 billion in the period, falling short of Street forecasts. Three analysts surveyed by Zacks expected $ 1.78 billion.
Anadarko Petroleum shares have climbed nearly 7 percent since the beginning of the year, while the Standard & Poor’s 500 index has increased roughly 2 percent. In the final minutes of trading on Monday, shares hit $ 51.95, a drop of 45 percent 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 APC at http://www.zacks.com/ap/APC
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Keywords: Anadarko Petroleum, Earnings Report
