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XTO Energy Beats Consensus Estimate

Domestic energy producer XTO Energy has posted consensus-beating fourth quarter earnings amid strong gas production results.
Author:

FORT WORTH, Texas (

TheStreet

) -- Domestic energy producer

XTO Energy

(XTO)

posted consensus-beating fourth-quarter earnings amid strong gas-production results.

XTO Energy reported earnings of $537 million, or 92 cents a share, which was a 53% increase from a year ago. The company posted total revenue of $2.34 billion, or a 19% increase from the prior year. Adjusted earnings for the fourth quarter was $542 million, or 93 cents a share. XTO Energy said that during the fourth quarter, daily gas production averaged 2.37 billion cubic feet, up 9% from the previous year.

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Wall Street's consensus estimate for the fourth quarter was 85 cents a share on revenue of $2.32 billion.

-- Reported by Andrea Tse in New York

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