Anadarko Swings to a Quarterly Profit -- Earnings Review

   By Maria Armental

Anadarko Petroleum Corp. (APC) on Tuesday reported second-quarter results. Here's what you need to know:

PROFIT: Anadarko swung to a second-quarter profit of $29 million, or 5 cents a share, from a loss of $415 million, or 76 cents a share, a year earlier. Excluding certain items, Anadarko reported a profit of 54 cents a share, compared with analysts' projected 56 cents a share, according to Thomson Reuters.

REVENUE: Revenue rose 21% to $3.29 billion, beating the consensus estimate of $3.07 billion.

COSTS: Expenses fell 11% to $2.47 billion.

COMMENTARY: Chief Executive Al Walker said in a statement Anadarko's liquefied natural gas project in Mozambique has made good progress, and company officials still expect to make a final investment decision in the first half of 2019.

STOCK: Shares, which outperform the market with a 36% gain this year, fell 1% to $72.40 in after-hours trading.

Write to Maria Armental at maria.armental@wsj.com

(END) Dow Jones Newswires

July 31, 2018 17:00 ET (21:00 GMT)

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