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Devon Energy: 3Q Earnings Snapshot

·1 min read

OKLAHOMA CITY (AP) _ Devon Energy Corp. (DVN) on Thursday reported a third-quarter loss of $92 million, after reporting a profit in the same period a year earlier.

The Oklahoma City-based company said it had a loss of 25 cents per share. Losses, adjusted for one-time gains and costs, came to 4 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 8 cents per share.

The oil and gas exploration company posted revenue of $1.07 billion in the period, which met Street forecasts.

Devon Energy shares have decreased 67% since the beginning of the year, while the Standard & Poor's 500 index has climbed 2.5%. In the final minutes of trading on Thursday, shares hit $8.45, a decline of 61% 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 DVN at https://www.zacks.com/ap/DVN