NEW YORK (TheStreet) -- Cobalt International Energy (CIE) shares are up 10% to $8.70 in early afternoon trading on Tuesday following the release of its third quarter earnings results.

The Houston-based oil company reported a third quarter net loss of $59.2 million, or a loss of 12 cents per share, which topped analysts' 17 cents per share loss expectations.

During the same period last year the company reported a net loss of 16 cents per share.

The company did not provide revenue results for the quarter.

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