HOUSTON (AP) — HOUSTON (AP) — APA Corporation (APA) on Wednesday reported third-quarter net income of $205 million, after reporting a loss in the same period a year earlier.
The Houston-based company said it had profit of 57 cents per share. Earnings, adjusted for non-recurring costs, came to 93 cents per share.
The results beat Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 74 cents per share.
The oil and natural gas producer posted revenue of $2.02 billion in the period, which did not meet Street forecasts. Three analysts surveyed by Zacks expected $2.04 billion.
APA shares have decreased 6% since the beginning of the year, while the S&P's 500 index has risen 16%. In the final minutes of trading on Wednesday, shares hit $21.66, a drop of 8% in the last 12 months.
_____
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on APA at https://www.zacks.com/ap/APA
/A%20concept%20image%20of%20space_%20Image%20by%20Canities%20via%20Shutterstock_.jpg)
/A%20concept%20image%20of%20a%20flying%20car_%20Image%20by%20Phonlamai%20Photo%20via%20Shutterstock_.jpg)
/Oracle%20Corp_%20office%20logo-by%20Mesut%20Dogan%20via%20iStock.jpg)