AP NEWS

ConocoPhillips: 2Q Earnings Snapshot

July 26, 2018

HOUSTON (AP) _ ConocoPhillips (COP) on Thursday reported second-quarter net income of $1.64 billion, after reporting a loss in the same period a year earlier.

On a per-share basis, the Houston-based company said it had net income of $1.39. Earnings, adjusted for non-recurring gains, came to $1.09 per share.

The results exceeded Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.06 per share.

The energy company posted revenue of $9.24 billion in the period, which did not meet Street forecasts. Three analysts surveyed by Zacks expected $9.79 billion.

ConocoPhillips shares have increased 30 percent since the beginning of the year, while the Standard & Poor’s 500 index has increased 6.5 percent. The stock has risen 64 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 COP at https://www.zacks.com/ap/COP

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