Andarko posts net loss, adjusted tops targets
7/30/12 4:49 PM ET (MarketWatch)
SAN FRANCISCO (MarketWatch) -- Anadarko Petroleum Corp. reported after close Friday second-quarter loss of $380 million, or 76 cents per share, reversing a year-ago profit of $544 million, or $1.08 a share. Adjusted to exclude one-time items, the company earned $424 million, or 85 cents a share, in the latest quarter. Revenue for the three-months ended June 30 fell to $3.22 billion from $3.68 billion. Analysts, who typically cite adjusted earnings, expected the The Woodlands, Texas-based company to earn 77 cents a share. Anadarko edged higher in after-hours to $72.24. Ahead of the report, the stock was down 13% in the last 12 months.