MIDLAND, Texas (AP) _ Concho Resources Inc. (CXO) on Tuesday reported a third-quarter loss of $61 million, after reporting a profit in the same period a year earlier.

On a per-share basis, the Midland, Texas-based company said it had a loss of 31 cents. Earnings, adjusted for non-recurring costs and to extinguish debt, were $1.43 per share.

The results surpassed Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of $1.14 per share.

The independent oil and gas company posted revenue of $834 million in the period, which did not meet Street forecasts. Eight analysts surveyed by Zacks expected $926.7 million.

Concho Resources shares have dropped 50% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $43.71, a drop of 33% in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CXO at https://www.zacks.com/ap/CXO

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