Devon reports quarterly loss compared with year-ago profit

U.S. oil producer Devon Energy Corp (DVN.N) reported a quarterly loss compared with year-ago profit on Tuesday, hurt by higher expenses and a strong dollar.

A pump jack operates at a well site leased by Devon Energy Production Company near Guthrie, Oklahoma September 15, 2015. REUTERS/Nick Oxford – TM3EB9F0WO901

Net loss attributable to the company was $425 million, or 83 cents per share, for the second quarter ended June 30, compared with a profit of $219 million, or 41 cents per share, a year earlier.

Total revenue rose to $2.25 billion from $2.17 billion.

Source: Read Full Article