Charges took a bite out of oil and gas explorer Anadarko Petroleum Corp.'s second-quarter net income.
Houston-based Anadarko reported net income of $652 million, or $1.38 per share, on revenue of $3.3 billion, for the quarter ended June 30. That compared with net income of $815 million, or $1.43 per share, on revenue of $1.8 billion, for the same period in 2006.
Analysts polled by Thomson Financial expected Anadarko (NYSE: APC) to generate net earnings per share of 79 cents.
The company said second-quarter earnings included unrealized losses on derivatives of $35 million, or 8 cents per share; a restructuring charge of $27 million, or 6 cents per share; realized gains on derivatives of $82 million, or 17 cents per share; and a gain from the sale of certain midstream assets of $126 million, or 27 cents per share.
