Newfield Exploration Q4 Profit Misses Estimate

(RTTNews) - Newfield Exploration Co. (NFX) reported net income for the fourth quarter of $360 million or $2.60 per share, compared to $17 million or $0.13 per share for the year-ago quarter.

Income from continuing operations for the fourth quarter was $367 million or $2.65 per share, compared to a loss from continuing operations of $16 million or $0.12 per share in the prior year quarter.

Excluding items, adjusted income from continuing operations for the latest quarter was $53 million or $0.38 per share.

Oil, gas and NGL revenues for the fourth quarter fell to $495 million from $510 million a year ago.

Analysts polled by Thomson Reuters expected the company to earn $0.44 per share on revenue of $545.71 million for the fourth quarter. Analysts' estimates typically exclude special items.