APA Corporation Q1 Profit Increases, but misses estimates

(RTTNews) - APA Corporation (APA) revealed a profit for its first quarter that increased from last year but missed the Street estimates.

The company's bottom line came in at $1.88 billion, or $5.43 per share. This compares with $0.39 billion, or $1.02 per share, in last year's first quarter.

Excluding items, APA Corporation reported adjusted earnings of $668 million or $1.92 per share for the period.

Analysts on average had expected the company to earn $2.13 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 83.3% to $3.83 billion from $2.09 billion last year.

APA Corporation earnings at a glance (GAAP) :

-Earnings (Q1): $1.88 Bln. vs. $0.39 Bln. last year. -EPS (Q1): $5.43 vs. $1.02 last year. -Analyst Estimate: $2.13 -Revenue (Q1): $3.83 Bln vs. $2.09 Bln last year.