HOUSTON (AP) _ Noble Energy Inc. (NBL) on Friday reported a first-quarter loss of $313 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the Houston-based company said it had a loss of 65 cents. Losses, adjusted for one-time gains and costs, came to 9 cents per share.
The results fell short of Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for a loss of 8 cents per share.
The oil and gas company posted revenue of $1.05 billion in the period, which topped Street forecasts. Ten analysts surveyed by Zacks expected $1 billion.
Noble shares have risen 36% since the beginning of the year, while the Standard & Poor's 500 index has risen 16%. The stock has dropped 23% in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on NBL at https://www.zacks.com/ap/NBL