Chesapeake Energy Falls Despite Earnings Beat
Chesapeake Energy (NYSE: CHK), a controversial company that is at the leading edge of America's natural gas market, released its fiscal fourth-quarter earnings results prior to the opening bell on Thursday.
The company reported net income of $257 million or $0.39 per share, compared to $429 million or $0.63 per share, in last year's corresponding quarter.
On an adjusted basis, net income was $153 million or $0.26 per share, which compared to analysts' consensus EPS estimates of $0.14.
Total revenue was up to $3.54 billion from $2.73 billion in the year ago period. This was above analysts' consensus revenue estimates of $2.86 billion.
Chesapeake closed Thursday at $20.19, down about 0.25%.
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