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HOUSTON (AP) _ Apache Corp. (APA) on Thursday reported a fourth-quarter loss of $4.81 billion, after reporting a profit in the same period a year earlier.
The Houston-based company said it had a loss of $12.78 per share. Earnings, adjusted for non-recurring costs and asset impairment costs, came to $1.07 per share.
The results surpassed Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 76 cents per share.
The oil and natural gas producer posted revenue of $2.93 billion in the period, which did not meet Street forecasts. Analysts expected $3.07 billion, according to Zacks.
For the year, the company reported a loss of $5.4 billion, or $14.06 per share, swinging to a loss in the period. Revenue was reported as $13.75 billion.
Apache shares have risen slightly more than 3 percent since the beginning of the year, while the Standard & Poor's 500 index has stayed nearly flat. The stock has decreased 20 percent in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on APA at http://www.zacks.com/ap/APA
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Keywords: Apache, Earnings Report
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