Diamondback: Q3 Earnings Snapshot

MIDLAND, Texas (AP) — MIDLAND, Texas (AP) — Diamondback Energy Inc. (FANG) on Monday reported third-quarter profit of $1.6 billion.

The Midland, Texas-based company said it had profit of $5.69 per share. Earnings, adjusted for non-recurring costs, were $5.86 per share.

The results beat Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $4.92 per share.

The energy exploration and production company posted revenue of $5.43 billion in the period, which also beat Street forecasts. Five analysts surveyed by Zacks expected $4.29 billion.

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