SANTA CLARITA, Calif. (AP) _ California Resources Corp. (CRC) on Thursday reported third-quarter profit of $94 million.
On a per-share basis, the Santa Clarita, California-based company said it had profit of $1.89. Earnings, adjusted for non-recurring gains, came to 35 cents per share.
The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 37 cents per share.
The oil and natural gas company posted revenue of $681 million in the period.
California Resources shares have dropped 67% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $5.59, a fall of 82% in the last 12 months.