HOUSTON (AP) _ Occidental Petroleum Corp. (OXY) on Monday reported a loss of $146 million in its first quarter.
On a per-share basis, the Houston-based company said it had a loss of 36 cents. Losses, adjusted for one-time gains and costs, were 15 cents per share.
The results topped Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for a loss of 33 cents per share.
The oil and gas exploration and production company posted revenue of $5.48 billion in the period, also surpassing Street forecasts. Four analysts surveyed by Zacks expected $4.92 billion.
Occidental shares have risen 54% since the beginning of the year, while the S&P's 500 index has climbed 12%. In the final minutes of trading on Monday, shares hit $26.63, an increase of 77% 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 OXY at https://www.zacks.com/ap/OXY
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