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Continental Resources: 3Q Earnings Snapshot

·1 min read

OKLAHOMA CITY (AP) _ Continental Resources Inc. (CLR) on Thursday reported a third-quarter loss of $79.4 million, after reporting a profit in the same period a year earlier.

The Oklahoma City-based company said it had a loss of 22 cents per share. Losses, adjusted for one-time gains and costs, came to 16 cents per share.

The results surpassed Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for a loss of 24 cents per share.

The independent oil and gas company posted revenue of $692.4 million in the period, also exceeding Street forecasts. Seven analysts surveyed by Zacks expected $619.5 million.

Continental Resources shares have fallen 61% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $13.31, a fall of 58% 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 CLR at https://www.zacks.com/ap/CLR