A year ago, Anadarko Petroleum Corp. reported making a profit in the second quarter of the year. This year, it’s a different story as the Houston, Texas based firm reported a second-quarter loss of $692 million.
Its losses were $1.36 a share basis and adjusted for non-recurring costs, they came to 60 cents per share. At least it was still better than what Wall Street expected. Fourteen analysts surveyed by Zacks Investment Research indicated they expected a loss of 77 cents a share.
Overall revenue for the company totaled $1.92 billion which also beat the Wall Street forecasts.
