MIDLAND, Texas (AP) — MIDLAND, Texas (AP) — Diamondback Energy Inc. (FANG) on Tuesday reported fourth-quarter earnings of $960 million.

On a per-share basis, the Midland, Texas-based company said it had profit of $5.34. Earnings, adjusted for non-recurring gains, came to $4.74 per share.

The results exceeded Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of $4.61 per share.

The energy exploration and production company posted revenue of $2.23 billion in the period, which also topped Street forecasts. Eight analysts surveyed by Zacks expected $2.15 billion.

For the year, the company reported profit of $3.14 billion, or $17.34 per share. Revenue was reported as $8.41 billion.

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