WPX: 3Q Earnings Snapshot
TULSA, Okla. (AP) _ WPX Energy Inc. (WPX) on Wednesday reported third-quarter net income of $121 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the Tulsa, Oklahoma-based company said it had profit of 29 cents. Earnings, adjusted for non-recurring gains, came to 9 cents per share.
The results missed Wall Street expectations. The average estimate of 14 analysts surveyed by Zacks Investment Research was for earnings of 11 cents per share.
The independent oil and gas company posted revenue of $795 million in the period, which beat Street forecasts. Ten analysts surveyed by Zacks expected $636.8 million.
WPX shares have declined 13% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $9.90, a fall of 37% in the last 12 months.