ConocoPhillips (NYSE:COP) reported first quarter 2012 adjusted earnings of $2.02 per share, failing to meet the Zacks Consensus Estimate of $2.08, mainly on account of lower production volume. However, earnings were higher by almost 11% from the year-earlier profit of $1.82.
Revenues in the reported quarter increased to $58,354 million from the year-ago level of $58,247 million. The reported figure also failed to meet our projection of $59,737 million.
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