OKLAHOMA CITY (AP) — OKLAHOMA CITY (AP) — Devon Energy Corp. (DVN) on Tuesday reported fourth-quarter net income of $562 million.
The Oklahoma City-based company said it had profit of 90 cents per share. Earnings, adjusted for non-recurring gains, came to 82 cents per share.
The results exceeded Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 81 cents per share.
The oil and gas exploration company posted revenue of $4.12 billion in the period, which also beat Street forecasts. Six analysts surveyed by Zacks expected $4.02 billion.
For the year, the company reported profit of $2.64 billion, or $4.17 per share. Revenue was reported as $17.19 billion.
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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 DVN at https://www.zacks.com/ap/DVN
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