UPDATE: Apache Posts Upbeat Q3 Profit

Apache

reported a better-than-expected third-quarter profit. Apache's quarterly profit surged to $300 million, or $0.75 per share, versus a year-ago profit of $161 million, or $0.41 per share. Excluding items, it earned $2.32 per share, beating analysts' estimates of $2.15 per share. Apache shares closed at $88.45 yesterday.