Concho Resources: 2Q Earnings Snapshot
MIDLAND, Texas (AP) _ Concho Resources Inc. (CXO) on Wednesday reported second-quarter net income of $137 million.
The Midland, Texas-based company said it had profit of 92 cents per share. Earnings, adjusted for non-recurring costs, came to $1.24 per share.
The results beat Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of 92 cents per share.
The independent oil and gas company posted revenue of $945 million in the period, also beating Street forecasts. Eight analysts surveyed by Zacks expected $856.9 million.
Concho Resources shares have fallen nearly 5 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $143.14, a climb of 9.5 percent in the last 12 months.