MIDLAND, Texas (AP) — MIDLAND, Texas (AP) — Viper Energy Partners LP (VNOM) on Tuesday reported first-quarter net income of $43.4 million.

On a per-share basis, the Midland, Texas-based company said it had profit of 49 cents. Earnings, adjusted for non-recurring costs, were 52 cents per share.

The results surpassed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 37 cents per share.

The oil and gas company posted revenue of $205.4 million in the period, which also topped Street forecasts. Six analysts surveyed by Zacks expected $200.6 million.

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