UPDATE: ConocoPhillips Q4 Profit Drops 58%
ConocoPhillips (NYSE: COP) reported a 58% drop in its fourth-quarter earnings.
ConocoPhillips' quarterly profit fell to $1.43 billion, or $1.16 per share, from $3.39 billion, or $2.56 per share, in the year-ago period. Excluding one-time items, its adjusted earnings declined to $1.43 per share from $1.55 per share.
Its sales declined 2.4% to $15.57 billion. However, analysts expected earnings of $1.42 per share on revenue of $13.31 billion.
ConocoPhillips shares fell 0.15% to $61.00 in after-hours trading.
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