CHK Positive Surprises

Chesapeake Energy is still losing money but at a much slower rate, which sent the stock climbing …

During the third quarter, Chesapeake’s loss narrowed to $1.16 billion, or $1.54 per share, compared with a loss of $4.7 billion, or $7.08 per share, a year earlier. Excluding certain items, earnings actually came in at 9 cents per share, which beat Wall Street analyst estimates of a three cent loss.

Revenue fell by 33% to $2.28 billion, above analyst estimates of $2.18 billion.

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