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Chesapeake Energy : reports 1Q loss

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05/05/2016 | 02:28pm CEST

OKLAHOMA CITY (AP) _ Chesapeake Energy Corp. (CHK) on Thursday reported a loss of $921 million in its first quarter.

On a per-share basis, the Oklahoma City-based company said it had a loss of $1.44. Losses, adjusted for asset impairment costs and non-recurring costs, came to 10 cents per share.

The results beat Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for a loss of 11 cents per share.

The natural gas company posted revenue of $993 million in the period, also beating Street forecasts. Five analysts surveyed by Zacks expected $920.8 million.

Chesapeake shares have risen 26 percent since the beginning of the year, while the Standard & Poor's 500 index has stayed nearly flat. The stock has decreased 66 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 CHK at http://www.zacks.com/ap/CHK

Keywords: Chesapeake Energy, Earnings Report

Automated Insights, source Associated Press News

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