Shares of Kosmos Energy Ltd. (KOS) are falling more than 6% Monday morning after reporting lower earnings and revenue in the second quarter.
Net income was $23.35 million or $0.05 per share, lower than $117.17 million or $0.25 per share a year ago.
Excluding one-time items, earnings were $27 million or $0.06 per share, that missed the average estimate of analysts polled by Thomson-Reuters of $0.09 per share.
Quarterly revenue declined to $273.32 million from $620.88 million a year ago. The consensus estimate was for $289.53 million.
KOS, currently at $6.81 has traded in the range of $4.64 - $8.55 in the last 1 year.
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