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Diamondback: 1Q Earnings Snapshot

MIDLAND, Texas (AP) _ Diamondback Energy Inc. (FANG) on Tuesday reported first-quarter earnings of $10 million.

On a per-share basis, the Midland, Texas-based company said it had profit of 6 cents. Earnings, adjusted for non-recurring costs, were $1.39 per share.

The results beat Wall Street expectations. The average estimate of 18 analysts surveyed by Zacks Investment Research was for earnings of $1.36 per share.

The energy exploration and production company posted revenue of $864 million in the period, which fell short of Street forecasts. Fourteen analysts surveyed by Zacks expected $875.2 million.

Diamondback shares have increased almost 6% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $98.18, a decline of 25% 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 FANG at https://www.zacks.com/ap/FANG