OKLAHOMA CITY (AP) — OKLAHOMA CITY (AP) — Devon Energy Corp. (DVN) on Tuesday reported fourth-quarter profit of $639 million.
On a per-share basis, the Oklahoma City-based company said it had net income of 98 cents. Earnings, adjusted for non-recurring costs, were $1.16 per share.
The results surpassed Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $1 per share.
The oil and gas exploration company posted revenue of $4.4 billion in the period, also beating Street forecasts. Five analysts surveyed by Zacks expected $4.24 billion.
For the year, the company reported profit of $2.89 billion, or $4.56 per share. Revenue was reported as $15.94 billion.
_____
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
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.