Concho Resources: 1Q Earnings Snapshot

MIDLAND, Texas (AP) _ Concho Resources Inc. (CXO) on Tuesday reported a first-quarter loss of $695 million, after reporting a profit in the same period a year earlier.

On a per-share basis, the Midland, Texas-based company said it had a loss of $3.49. Earnings, adjusted for non-recurring costs, were 72 cents per share.

The results missed Wall Street expectations. The average estimate of 15 analysts surveyed by Zacks Investment Research was for earnings of 73 cents per share.

The independent oil and gas company posted revenue of $1.1 billion in the period, surpassing Street forecasts. Eleven analysts surveyed by Zacks expected $1.05 billion.

Concho Resources shares have climbed 12% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $114.97, a decline of 27% 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 CXO at https://www.zacks.com/ap/CXO