Apache Corp. Q1 adjusted earnings Beat Estimates

(RTTNews) - Apache Corp. (APA) announced earnings for first quarter that dropped from the same period last year.

The company's profit totaled $145 million, or $0.38 per share. This compares with $213 million, or $0.56 per share, in last year's first quarter.

Excluding items, Apache Corp. reported adjusted earnings of $124 million or $0.32 per share for the period.

Analysts had expected the company to earn $0.30 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 7.4% to $1.74 billion from $1.88 billion last year.

Apache Corp. earnings at a glance:

-Earnings (Q1): $124 Mln. vs. $31 Mln. last year. -EPS (Q1): $0.32 vs. $0.08 last year. -Analysts Estimate: $0.30 -Revenue (Q1): $1.74 Bln vs. $1.88 Bln last year.