CANONSBURG, Pa. (AP) _ Rice Energy Inc. (RICE) on Wednesday reported a loss of $169.9 million in its fourth quarter.
On a per-share basis, the Canonsburg, Pennsylvania-based company said it had a loss of 88 cents. Earnings, adjusted for one-time gains and costs, were 37 cents per share.
The results surpassed Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 2 cents per share.
The independent oil and gas company posted revenue of $284 million in the period, also topping Street forecasts. Seven analysts surveyed by Zacks expected $281.8 million.
For the year, the company reported that its loss narrowed to $269.8 million, or $1.84 per share. Revenue was reported as $778.9 million.
Rice Energy shares have fallen 8.5 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $19.54, more than doubling 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 RICE at https://www.zacks.com/ap/RICE
Keywords: Rice Energy, Earnings Report