Diamondback: Q1 Earnings Snapshot

MIDLAND, Texas (AP) — MIDLAND, Texas (AP) — Diamondback Energy Inc. (FANG) on Tuesday reported first-quarter profit of $768 million.

On a per-share basis, the Midland, Texas-based company said it had net income of $4.28. Earnings, adjusted for non-recurring costs, were $4.50 per share.

The results exceeded Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $4.29 per share.

The energy exploration and production company posted revenue of $2.23 billion in the period, also topping Street forecasts. Eight analysts surveyed by Zacks expected $2.09 billion.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on FANG at https://www.zacks.com/ap/FANG