Apache Corp. Q2 Income Drops 76%

(RTTNews) - Apache Corp. (APA) released earnings for second quarter that retreated compared to the same period last year.

The company said its profit came in at $20 million, or $0.05 per share. This was down from $82 million, or $0.22 per share, in last year's second quarter.

Analysts had expected the company to earn -$0.15 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 38.7% to $1.38 billion. This was down from $2.25 billion last year.

Apache Corp. earnings at a glance:

-Earnings (Q2): $20 Mln. vs. $82 Mln. last year. -Earnings Decline (Y-o-Y): -75.6% -EPS (Q2): $0.05 vs. $0.22 last year. -EPS Decline (Y-o-Y): -77.3% -Analysts Estimate: -$0.15 -Revenue (Q2): $1.38 Bln vs. $2.25 Bln last year. -Revenue Change (Y-o-Y): -38.7%