Chesapeake Energy Corp. Q4 Profit Increases, beats estimates

(RTTNews) - Chesapeake Energy Corp. (CHK) announced earnings for its fourth quarter that increased from last year and beat the Street estimates.

The company's earnings came in at $3.51 billion, or $24.00 per share. This compares with $1.43 billion, or $11.13 per share, in last year's fourth quarter.

Excluding items, Chesapeake Energy Corp. reported adjusted earnings of $0.62 billion or $4.22 per share for the period.

Analysts on average had expected the company to earn $2.99 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 33.7% to $4.13 billion from $3.09 billion last year.

Chesapeake Energy Corp. earnings at a glance (GAAP) :

-Earnings (Q4): $3.51 Bln. vs. $1.43 Bln. last year. -EPS (Q4): $24.00 vs. $11.13 last year. -Analyst Estimate: $2.99 -Revenue (Q4): $4.13 Bln vs. $3.09 Bln last year.