Devon Energy Corp. Bottom Line Drops In Q1, misses estimates

(RTTNews) - Devon Energy Corp. (DVN) revealed a profit for first quarter that decreased from the same period last year and missed the Street estimates.

The company's bottom line totaled $596 million, or $0.94 per share. This compares with $995 million, or $1.53 per share, in last year's first quarter.

Analysts on average had expected the company to earn $1.11 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 5.3% to $3.6 billion from $3.8 billion last year.

Devon Energy Corp. earnings at a glance (GAAP) :

-Earnings (Q1): $596 Mln. vs. $995 Mln. last year. -EPS (Q1): $0.94 vs. $1.53 last year. -Revenue (Q1): $3.6 Bln vs. $3.8 Bln last year.