Diamondback Energy Impresses with Q4 Earnings Beat and Production Surge Diamondback Energy Impresses with Q4 Earnings Beat and Production Surge

Written By Michael Gary Scott
oil pumps on sunset

ssuaphoto/iStock via Getty Images

Diamondback Energy (NASDAQ:FANG) soared 1.6% in after-hours trading on Tuesday following an impressive Q4 earnings report, which surpassed analysts’ expectations. The company’s stellar performance was underpinned by robust growth in oil and gas production.

Though Q4 net income dipped to $960 million, or $5.34 per share, from $1.01 billion, or $5.62 per share, in the year-earlier quarter, revenues climbed 10% year-over-year to reach $2.23 billion.

See also  The Decline of Chinese Stocks: A Confluence of Economic Woes and Market Uncertainty