MIDLAND, Texas (AP) _ Diamondback Energy Inc. (FANG) on Monday reported second-quarter net income of $1.42 billion.

The Midland, Texas-based company said it had net income of $7.93 per share. Earnings, adjusted for non-recurring gains, were $7.07 per share.

The results exceeded Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of $6.66 per share.

The energy exploration and production company posted revenue of $2.77 billion in the period, also beating Street forecasts. Eight analysts surveyed by Zacks expected $2.51 billion.

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

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