DENVER (AP) _ QEP Resources Inc. (QEP) on Wednesday reported a loss of $116.7 million in its first quarter.
On a per-share basis, the Denver-based company said it had a loss of 49 cents. Earnings, adjusted for non-recurring costs, came to 15 cents per share.
The results exceeded Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for a loss of 2 cents per share.
The independent oil and gas company posted revenue of $280.6 million in the period, which fell short of Street forecasts. Eight analysts surveyed by Zacks expected $290.2 million.
QEP Resources shares have risen 43 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed 17 percent. In the final minutes of trading on Wednesday, shares hit $8.05, a fall of 34 percent 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 QEP at https://www.zacks.com/ap/QEP