Noble: 4Q Earnings Snapshot
HOUSTON (AP) _ Noble Energy Inc. (NBL) on Tuesday reported a fourth-quarter loss of $824 million, after reporting a profit in the same period a year earlier.
The Houston-based company said it had a loss of $1.72 per share. Earnings, adjusted for non-recurring costs, were 12 cents per share.
The results beat Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of 11 cents per share.
The oil and gas company posted revenue of $1.2 billion in the period, also exceeding Street forecasts. Ten analysts surveyed by Zacks expected $1.17 billion.
For the year, the company reported that its loss narrowed to $66 million, or 14 cents per share. Revenue was reported as $4.99 billion.
Noble shares have risen 21 percent since the beginning of the year, while the Standard & Poor’s 500 index has risen 11 percent. The stock has decreased 14 percent in the last 12 months.