HOUSTON (AP) — ConocoPhillips (COP) on Thursday reported a loss of $35 million in its fourth quarter.
On a per-share basis, the Houston-based company said it had a loss of 3 cents. Losses, adjusted for one-time gains and costs, came to 26 cents per share.
The results surpassed Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for a loss of 38 cents per share.
The energy company posted revenue of $7.25 billion in the period, which did not meet Street forecasts. Four analysts surveyed by Zacks expected $7.28 billion.
For the year, the company reported that its loss narrowed to $3.62 billion, or $2.91 per share. Revenue was reported as $24.36 billion.
ConocoPhillips shares have declined slightly more than 3 percent since the beginning of the year, while the Standard & Poor’s 500 index has increased almost 2 percent. The stock has climbed 26 percent in the last 12 months.
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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 COP at https://www.zacks.com/ap/COP
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Keywords: ConocoPhillips, Earnings Report
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