Chesapeake Energy Corp. Q4 Profit Decreases, but beats estimates

(RTTNews) - Chesapeake Energy Corp. (CHK) revealed a profit for fourth quarter that decreased from last year but beat the Street estimates.

The company's bottom line totaled $569 million, or $4.02 per share. This compares with $3.51 billion, or $24.00 per share, in last year's fourth quarter.

Excluding items, Chesapeake Energy Corp. reported adjusted earnings of $185 million or $1.31 per share for the period.

Analysts on average had expected the company to earn $0.73 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 52.8% to $1.95 billion from $4.13 billion last year.

Chesapeake Energy Corp. earnings at a glance (GAAP) :

-Earnings (Q4): $569 Mln. vs. $3.51 Bln. last year. -EPS (Q4): $4.02 vs. $24.00 last year. -Analyst Estimates: $0.73 -Revenue (Q4): $1.95 Bln vs. $4.13 Bln last year.