HOUSTON (AP) _ Apache Corp. (APA) on Thursday reported fourth-quarter net income of $456 million, after reporting a loss in the same period a year earlier.
The Houston-based company said it had net income of $1.19 per share. Earnings, adjusted for one-time gains and costs, were 33 cents per share.
The results beat Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 21 cents per share.
The oil and natural gas producer posted revenue of $1.59 billion in the period, also beating Street forecasts. Six analysts surveyed by Zacks expected $1.54 billion.
For the year, the company reported net income of $1.3 billion, or $3.41 per share, swinging to a profit in the period. Revenue was reported as $6.42 billion.
Apache shares have fallen 12 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed 1 percent. The stock has fallen 34 percent in the last 12 months.
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