Anadarko Petroleum reports 3Q loss

By The Associated Press

Anadarko Petroleum Corp. (APC) on Monday reported a loss of $830 million in its third quarter.

 

THE WOODLANDS, Texas (AP) — Anadarko Petroleum Corp. (APC) on Monday reported a loss of $830 million in its third quarter.

The company based in The Woodlands, Texas said it had a loss of $1.61 per share. Losses, adjusted for non-recurring costs, were 89 cents per share.

The results missed Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for a loss of 57 cents per share.

The oil company posted revenue of $1.89 billion in the period, which also did not meet Street forecasts. Four analysts surveyed by Zacks expected $2.21 billion.

Anadarko Petroleum shares have risen 22 percent since the beginning of the year, while the Standard & Poor's 500 index has risen 4 percent. In the final minutes of trading on Monday, shares hit $59.50, a fall of 12 percent in the last 12 months.

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