Anadarko Petroleum Corp. reported a second-quarter loss of $1.02 billion, after reporting a profit in the same period a year earlier.
On a per-share basis, the The Woodlands, Texas-based company said it had a loss of $2.09. Earnings, adjusted for non-recurring costs, came to 51 cents per share.
The results surpassed Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 46 cents per share.
The oil company posted revenue of $3.44 billion in the period, which also topped Street forecasts. Nine analysts surveyed by Zacks expected $3.21 billion.
Anadarko Petroleum shares have climbed 68% since the beginning of the year, while the Standard & Poor’s 500 index has climbed 21%. In the final minutes of trading on Friday, shares hit $73.62, climbing slightly in the last 12 months.