DENVER (AP) _ Centennial Resource Development, Inc. (CDEV) on Wednesday reported third-quarter net income of $37.1 million, after reporting a loss in the same period a year earlier.

The Denver-based company said it had profit of 12 cents per share. Earnings, adjusted for non-recurring costs and asset impairment costs, came to 25 cents per share.

The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 21 cents per share.

The company posted revenue of $288.5 million in the period, which also topped Street forecasts. Five analysts surveyed by Zacks expected $247.9 million.

Centennial Resource shares have more than quadrupled since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $7.49, increasing elevenfold in the last 12 months.

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

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