DENVER (AP) _ Centennial Resource Development, Inc. (CDEV) on Tuesday reported a loss of $34.6 million in its first quarter.
On a per-share basis, the Denver-based company said it had a loss of 12 cents. Losses, adjusted for non-recurring costs and asset impairment costs, were 1 cent per share.
The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of 2 cents per share.
The company posted revenue of $192.4 million in the period, also exceeding Street forecasts. Five analysts surveyed by Zacks expected $157.8 million.
In the final minutes of trading on Tuesday, the company's shares hit $4.26. A year ago, they were trading at $1.03.
_____
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CDEV at https://www.zacks.com/ap/CDEV