Devon Energy: Q1 Earnings Snapshot
By AP News
Published - May 08, 2023, 04:39 PM ET
Last Updated - Jun 21, 2023, 09:53 PM EDT
OKLAHOMA CITY (AP) — OKLAHOMA CITY (AP) — Devon Energy Corp. (DVN) on Monday reported first-quarter profit of $995 million.
On a per-share basis, the Oklahoma City-based company said it had profit of $1.53. Earnings, adjusted for non-recurring gains and pretax gains, came to $1.46 per share.
The results surpassed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.39 per share.
The oil and gas exploration company posted revenue of $3.82 billion in the period, which did not meet Street forecasts. Five analysts surveyed by Zacks expected $3.93 billion.
