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Woodside Petroleum profit misses consensus by 15.6% in H1

Woodside Petroleum Ltd. said its normalized net income for the first half came to 51 cents per share, compared with the S&P Capital IQ consensus estimate of 61 cents per share.

EPS rose 61.0% year over year from 32 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $431.9 million, a gain of 63.3% from $264.5 million in the year-earlier period.

Total revenue declined year over year to $1.87 billion from $1.94 billion, and total operating expenses declined 22.8% on an annual basis to $1.13 billion from $1.46 billion.

Reported net income grew 49.1% year over year to $507.0 million, or 60 cents per share, from $340.0 million, or 41 cents per share.