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ConocoPhillips: 3Q Earnings Snapshot

Associated Press
Updated ·1-min read

HOUSTON (AP) _ ConocoPhillips (COP) on Thursday reported a third-quarter loss of $450 million, after reporting a profit in the same period a year earlier.

On a per-share basis, the Houston-based company said it had a loss of 42 cents. Losses, adjusted for non-recurring costs, were 31 cents per share.

The results fell short of Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for a loss of 30 cents per share.

The energy company posted revenue of $4.38 billion in the period.

ConocoPhillips shares have declined 56% since the beginning of the year, while the Standard & Poor's 500 index has increased 1%. The stock has declined 48% in the last 12 months.

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