THE WOODLANDS, Texas (AP) — Anadarko Petroleum Corp. (APC) on Monday reported a loss of $3.27 billion in its first quarter.
The The Woodlands, Texas-based company said it had a loss of $6.45 per share. Losses, adjusted for non-recurring costs, were 72 cents per share.
The results did not meet Wall Street expectations. The average estimate of 16 analysts surveyed by Zacks Investment Research was for a loss of 63 cents per share.
The oil company posted revenue of $2.32 billion in the period, also falling short of Street forecasts. Eight analysts surveyed by Zacks expected $2.45 billion.
Anadarko Petroleum shares have climbed 14 percent since the beginning of the year, while the Standard & Poor's 500 index has risen nearly 3 percent. In the final minutes of trading on Monday, shares hit $93.90, a decline of almost 6 percent in the last 12 months.
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