DENVER (AP) _ Liberty Oilfield Services Inc. (LBRT) on Tuesday reported a first-quarter loss of $34.2 million, after reporting a profit in the same period a year earlier.
The Denver-based company said it had a loss of 21 cents per share.
The results surpassed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for a loss of 26 cents per share.
The provider of hydraulic fracturing services posted revenue of $552 million in the period, also beating Street forecasts. Five analysts surveyed by Zacks expected $490.6 million.
Liberty Oilfield Services shares have increased roughly 5% since the beginning of the year. The stock has more than tripled in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on LBRT at https://www.zacks.com/ap/LBRT