Hess: 2Q Earnings Snapshot

·1 min read

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.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on HES at https://www.zacks.com/ap/HES