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Cabot Oil & Gas Profit Rises, Meets Street - Quick Facts

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Cabot Oil & Gas Corp. (COG: Quote) Wedneday reported first-quarter net income of $18 million or $0.09 per share, up from $13 million or $0.06 per share last year, helped mainly by improved production.

Excluding items, adjusted earnings were $28.5 million or $0.14 per share, compared to $20.7 million or $0.10 per share a year ago.

Analysts polled by Thomson Reuters expected earnings of $0.14 per share for the quarter. Analysts' estimates typically exclude special items.

Revenue for the quarter rose to $272 million from $209 million a year ago. Analysts expected revenue of 273.94 million for the quarter.

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by RTT Staff Writer

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After ending the previous session mostly higher, stocks may see some further upside in early trading on Wednesday. The major index futures are currently pointing to a modestly higher open for the markets, with the Dow futures up by 17 points. The Bank of Spain on Wednesday boosted its growth projections for Spain this year and the next after the economy grew at a faster rate in the second quarter. In its monthly economic bulletin, the bank raised the growth forecast for this year to 1.3 percent from the 1.2 percent seen previously. The projection for the next year was lifted to 2 percent from 1.7 percent. Bank of England policymakers unanimously decided to maintain the key interest rate and quantitative easing at the meeting held on July 9 and 10, but signaled the possibility of a rate hike late this year as growth became more established.
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