Apache: 4Q Earnings Snapshot
HOUSTON (AP) _ Apache Corp. (APA) on Wednesday reported fourth-quarter net income of $10 million, 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 4 cents. Losses, adjusted for non-recurring gains, came to 5 cents per share.
The results beat Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for a loss of 8 cents per share.
The oil and natural gas producer posted revenue of $1.22 billion in the period, which also beat Street forecasts. Six analysts surveyed by Zacks expected $1.05 billion.
For the year, the company reported that its loss widened to $4.86 billion, or $12.86 per share. Revenue was reported as $4.43 billion.
Apache shares have climbed 47% since the beginning of the year, while the Standard & Poor’s 500 index has climbed 4.5%. The stock has dropped 22% in the last 12 months.