Chesapeake Rises on Q2 Results

Chesapeake Energy

released its second-quarter earnings results after the closing bell on Monday. The company reported net income of $929 million or $1.29 per share, compared to $467 million or $0.68 per share in last year's corresponding quarter. On an adjusted basis, net income was $3 million or $0.06 per share, versus $528 million or $0.76 per share in last year's second-quarter. This missed analysts' consensus EPS estimate of $0.08. Revenues in the quarter were $3.39 billion, increasing from $3.32 billion second-quarter last year. This came in well ahead of the Wall Street consensus revenue estimate of $2.44 billion. In Monday's after hours trading session, CHK had climbed around 4 percent to $18.42.