TULSA, Okla. (AP) _ Laredo Petroleum Inc. (LPI) on Wednesday reported a second-quarter loss of $545.5 million, after reporting a profit in the same period a year earlier.

The Tulsa, Oklahoma-based company said it had a loss of $46.75 per share. Earnings, adjusted for asset impairment costs and non-recurring costs, were $2.43 per share.

The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1.52 per share.

The oil and natural gas company posted revenue of $110.6 million in the period, missing Street forecasts. Five analysts surveyed by Zacks expected $184.6 million.

Laredo Petroleum shares have dropped 71% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $16.57, a decline of 71% 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 LPI at https://www.zacks.com/ap/LPI

Automated Insights, source Associated Press News