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Crescent Point Energy reports 1st-quarter loss but tops expectations

CALGARY – CALGARY, Alberta (AP) _ Crescent Point Energy Corp. (CPG) on Thursday reported a loss of $63.8 million in its first quarter.

The Calgary, Alberta-based company said it had a loss of 12 cents per share. Losses, adjusted for non-recurring costs, came to 1 cent per share.

The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 9 cents per share.

The oil producer posted revenue of $370 million in the period.

Crescent Point shares have risen 36 per cent since the beginning of the year. The stock has declined 36 per cent in the last 12 months.

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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 CPG at http://www.zacks.com/ap/CPG

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Keywords: Crescent Point Energy, Earnings Report