Newfield Exploration Co (NFX) reported that its third-quarter net income decreased to $78 million from $724 million last year. Earnings per share decreased to $0.58 from $5.48 prior year.
Non-GAAP earnings was $209 million or $1.58 per share. On average, 24 analysts polled by Thomson Reuters expected the company to report profit of $1.34 per share for the quarter. Analysts' estimates typically exclude special items.
Oil and gas revenues decreased to $375 million from $680 million last year. Analysts expected revenue of $536.34 million for the quarter.
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