Newfield Exploration Q2 Profit Declines

(RTTNews) - Newfield Exploration Co. (NFX) Wednesday reported a second-quarter net income of $111 million or $0.82 per share, compared to $135 million or $1.00 per share in the prior year quarter.

Income from continuing operations were $106 million or $0.78 per share, up from $64 million or $0.47 per share in the comparable quarter last year.

Excluding items and including earnings from discontinued international operations, net income for the second quarter of 2013 would have been $50 million, or $0.37 per diluted share.

On average, 21 analysts polled by Thomson Reuters expected the company to earn $0.42 per share for the quarter. Analysts' estimates typically exclude special items.

Total revenues for the quarter dropped to $435 million from $350 million in the prior-year quarter. Twelve analysts had a consensus revenue estimate of $636.55 million for the quarter.