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Occidental: Q4 Earnings Snapshot

HOUSTON (AP) — HOUSTON (AP) — Occidental Petroleum Corp. (OXY) on Wednesday reported fourth-quarter net income of $102 million.

On a per-share basis, the Houston-based company said it had net loss of 7 cents. Earnings, adjusted for non-recurring costs and to account for discontinued operations, came to 31 cents per share.

The results beat Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 19 cents per share.

The oil and gas exploration and production company posted revenue of $5.42 billion in the period, which missed Street forecasts. Four analysts surveyed by Zacks expected $5.88 billion.

For the year, the company reported profit of $2.33 billion, or $1.61 per share. Revenue was reported as $22.08 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 OXY at https://www.zacks.com/ap/OXY

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