NEW YORK (AP) _ Hess Corp. (HES) on Wednesday reported a loss of $320 million in its second quarter.
On a per-share basis, the New York-based company said it had a loss of $1.05.
The results topped Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for a loss of $1.18 per share.
The oil and gas producer posted revenue of $842 million in the period, which missed Street forecasts. Three analysts surveyed by Zacks expected $980.8 million.
Hess shares have declined 28% since the beginning of the year, while the Standard & Poor's 500 index has stayed nearly flat. The stock has decreased 20% in the last 12 months.