Apache (NYSE:APA) reported on Wednesday first quarter earnings that beat analysts' forecasts and revenue that fell short of expectations.
Apache announced earnings per share of $-0.13 on revenue of $1.28B. Analysts polled by anticipated EPS of $-0.3 on revenue of $1.32B. That with comparison to EPS of $0.1 on revenue of $1.64B in the same period a year before. Apache had reported EPS of $0.08 on revenue of $1.7B in the previous quarter. Analysts are expecting EPS of $-0.98 and revenue of $833.25M in the upcoming quarter.
Apache shares are down 54% from the beginning of the year , still down 65.62% from its 52 week high of $33.77 set on January 14. They are under-performing the S&P 500 which is down 12.21% year to date.
Apache shares gained 1.64% in after-hours trade following the report.
Apache follows other major Energy sector earnings this month
Apache's report follows an earnings beat by Exxon Mobil on Friday, who reported EPS of $0.53 on revenue of $56.16B, compared to forecasts EPS of $0.01 on revenue of $53.53B.
Chevron had beat expectations on Friday with first quarter EPS of $1.29 on revenue of $31.5B, compared to forecast for EPS of $0.65 on revenue of $29.14B.
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