Anadarko Q3 Profit Surges

(RTTNews) - Anadarko Petroleum Corp. (APC) reported third quarter net income of $1.09 billion or $2.12 per share, compared to $182 million or $0.36 per share for the year-ago quarter.

Excluding items, adjusted net income for the third quarter was $600 million or $1.16 per share, compared to $568 million or $1.12 per share in the prior year quarter.

Total revenue for the third quarter rose to $5.01 billion from $3.85 billion a year ago.

Analysts polled by Thomson Reuters expected the company to earn $1.27 per share on revenue of $4.29 billion for the third quarter. Analysts' estimates typically exclude special items.

Al Walker, Anadarko Chairman, President and CEO, said, "The impressive results from our operating activities enable us to increase our 2014 full-year sales-volume expectations for the third time this year, to a new range of 304 to 306 million BOE."