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Devon reports quarterly loss compared with year-ago profit

Published 07/31/2018, 04:22 PM
Updated 07/31/2018, 04:30 PM
© Reuters. A pump jack operates at a well site leased by Devon Energy Production Company near Guthrie, Oklahoma

U.S. oil producer Devon Energy Corp (N:DVN) reported a quarterly loss compared with year-ago profit on Tuesday, hurt by higher expenses and a strong dollar.

Net loss attributable to the company was $425 million, or 83 cents per share, for the second quarter ended June 30, compared with a profit of $219 million, or 41 cents per share, a year earlier.

Total revenue rose to $2.25 billion from $2.17 billion.

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