Anadarko moves back into black for 2012 fourth quarter

City A.M. Reporter
ANADARKO yesterday reported fourth-quarter net income of $203m (£128.8m) – a big improvement on the $358m loss at the same time last year.

Adjusted net income for the quarter was $457m, or 91 cents a share, compared to $423m or 85 cents a share at the same time last year. Analysts had forecast the company to report earnings of 72 cents per share for the quarter.

Total revenues for the oil and gas producer fell to $3.41bn from $3.84bn last year. However that was still above analysts’ consensus revenue of $3.38bn for the period in 2012.

Shares fell 0.8 per cent to $80.50 at the close of New York trading.