MIDLAND, Texas (AP) — MIDLAND, Texas (AP) — Diamondback Energy Inc. (FANG) on Monday reported fourth-quarter net income of $1.07 billion.
The Midland, Texas-based company said it had net income of $3.67 per share. Earnings, adjusted for non-recurring gains, were $3.64 per share.
The results exceeded Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $3.26 per share.
The energy exploration and production company posted revenue of $3.71 billion in the period, which also topped Street forecasts. Six analysts surveyed by Zacks expected $3.4 billion.
For the year, the company reported profit of $3.34 billion, or $15.53 per share. Revenue was reported as $11.07 billion.
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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 FANG at https://www.zacks.com/ap/FANG
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