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Apache: 3Q Earnings Snapshot

·1 min read

HOUSTON (AP) _ Apache Corp. (APA) on Wednesday reported a loss of $4 million in its third quarter.

The Houston-based company said it had a loss of 2 cents per share. Losses, adjusted for non-recurring gains, came to 16 cents per share.

The results beat Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for a loss of 37 cents per share.

The oil and natural gas producer posted revenue of $1.12 billion in the period, which also topped Street forecasts. Six analysts surveyed by Zacks expected $979.8 million.

Apache shares have decreased 65% since the beginning of the year, while the Standard & Poor's 500 index has risen roughly 7%. In the final minutes of trading on Wednesday, shares hit $8.99, a fall of 63% 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 https://www.zacks.com/ap/APA