DALLAS (AP) — DALLAS (AP) — Matador Resources Co. (MTDR) on Tuesday reported first-quarter profit of $193.7 million.

On a per-share basis, the Dallas-based company said it had net income of $1.61. Earnings, adjusted for non-recurring costs, came to $1.71 per share.

The results topped Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1.48 per share.

The independent oil and gas company posted revenue of $787.7 million in the period, also beating Street forecasts. Four analysts surveyed by Zacks expected $726.1 million.

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