Devon Energy: Q3 Earnings Insights
Portfolio Pulse from Benzinga Insights
Devon Energy (NYSE:DVN) reported Q3 earnings, beating estimated earnings by 12.24% with an EPS of $1.65, compared to an estimate of $1.47. However, revenue was down $1.60 billion from the same period last year. Last quarter, the company beat EPS estimates by $0.01, which was followed by a 7.34% drop in the share price the next day.
November 07, 2023 | 9:26 pm
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NEUTRAL IMPACT
Devon Energy's Q3 earnings beat estimates, but revenue was down from last year. The company's share price dropped 7.34% the day after it beat EPS estimates last quarter.
While Devon Energy beat earnings estimates, the drop in revenue and the historical trend of share price dropping after beating estimates could potentially neutralize any positive impact on the stock price.
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RELEVANCE 100