(RTTNews) - Devon Energy Corp. (DVN) released a profit for fourth quarter that decreased from the same period last year and missed the Street estimates.
The company's earnings totaled $1.20 billion, or $1.83 per share. This compares with $1.51 billion, or $2.23 per share, in last year's fourth quarter.
Excluding items, Devon Energy Corp. reported adjusted earnings of $1.09 billion or $1.66 per share for the period.
Analysts on average had expected the company to earn $1.75 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter rose 0.7% to $4.30 billion from $4.27 billion last year.
Devon Energy Corp. earnings at a glance (GAAP) :
-Earnings (Q4): $1.20 Bln. vs. $1.51 Bln. last year. -EPS (Q4): $1.83 vs. $2.23 last year. -Analyst Estimates: $1.75 -Revenue (Q4): $4.30 Bln vs. $4.27 Bln last year.
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