MIDLAND, Texas (AP) _ Viper Energy Partners LP (VNOM) on Monday reported second-quarter net income of $4.7 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the Midland, Texas-based company said it had net income of 7 cents. Earnings, adjusted for non-recurring costs, were 9 cents per share.
The results beat Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 8 cents per share.
The oil and gas company posted revenue of $114.2 million in the period, also topping Street forecasts. Six analysts surveyed by Zacks expected $88.5 million.
Viper Energy shares have risen 54% since the beginning of the year. In the final minutes of trading on Monday, shares hit $17.92, a climb of 73% in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on VNOM at https://www.zacks.com/ap/VNOM
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