Devon Energy Corp. Reveals Increase In Q2 Profit, Beats Estimates

(RTTNews) - Devon Energy Corp. (DVN) reported a profit for its second quarter that increased from the same period last year and beat the Street estimates.

The company's bottom line totaled $844 million, or $1.34 per share. This compares with $690 million, or $1.07 per share, in last year's second quarter.

Analysts on average had expected the company to earn $1.16 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 13.4% to $3.917 billion from $3.454 billion last year.

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

-Earnings (Q2): $844 Mln. vs. $690 Mln. last year. -EPS (Q2): $1.34 vs. $1.07 last year. -Revenue (Q2): $3.917 Bln vs. $3.454 Bln last year.