Chesapeake: 1Q Earnings Snapshot

Chesapeake Energy Corp. (CHK) on Wednesday reported first-quarter profit of $293 million.

The Oklahoma City-based company said it had net income of 29 cents per share. Earnings, adjusted for non-recurring costs, were 34 cents per share.

The results topped Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 25 cents per share.

The natural gas company posted revenue of $2.49 billion in the period. Its adjusted revenue was $1.24 billion, which did not meet Street forecasts. Four analysts surveyed by Zacks expected $1.3 billion.

The company's shares closed at $2.98. A year ago, they were trading at $5.31.

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This story was generated by Automated Insights using data from Zacks Investment Research. Access a Zacks stock report on CHK at https://www.zacks.com/ap/CHK