California Resources Corp. missed on Wall Street expectations on earnings and revenue for the first quarter.
The Santa Clarita oil and natural gas producer reported on Thursday an adjusted net income of $91 million ($1.13 a share) for the quarter ending March 31, comparted to an adjusted net income of $102 million ($1.22) in the same period a year earlier. Revenue decreased from the prior year by 58 percent to $153 million.
Analysts on average expected earnings of $1.26 on revenue of $469 million, according to Thomson Financial Network.
Shares of California Resources (CRC) closed down $1.33, or about 3 percent, to $43.08 on the New York Stock Exchange, on a day when the Dow Jones closed down about 3.1 percent.
BlackLine Inc. beat Wall Street expectations on earnings and matched on revenue for the first quarter.
The Woodland Hills accounting software developer reported on Thursday an adjusted net income of $702,000 (1 cent a share) for the quarter ending March 31, compared with an adjusted net income of $7 million (11 cents) in the same period a year earlier. Revenue increased from the prior year by 22 percent to $120 million.
Analysts on average expected earnings of -8 cents on revenue of $120 million, according to Thomson Financial Network.
Shares of BlackLine (BL) closed down $5.85, or about 8.6 percent, to $61.99 on the Nasdaq, on a day when that market closed down about 5 percent.
