ConocoPhillips said its normalized net income for the fourth quarter came to a loss of 30 cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 41 cents per share.
The per-share loss narrowed 80.1% year over year from $1.51.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $375.4 million, compared with a loss of $1.88 billion in the year-earlier period.
The normalized profit margin rose to negative 5.4% from negative 30.0% in the year-earlier period.
Total revenue rose 11.6% on an annual basis to $6.99 billion from $6.26 billion, and total operating expenses decreased 18.8% on an annual basis to $7.30 billion from $8.99 billion.
Reported net income totaled a loss of $38.2 million, or a loss of 3 cents per share, compared with a loss of $3.45 billion, or a loss of $2.78 per share, in the year-earlier period.
For the year, the company's normalized net income totaled a loss of $3.04 per share, compared with the S&P Capital IQ consensus normalized EPS estimate of a loss of $2.81.
EPS was a loss of $2.65 in the prior year.
Normalized net income was a loss of $3.79 billion, compared with a loss of $3.29 billion in the prior year.
Full-year total revenue fell on an annual basis to $23.75 billion from $30.22 billion, and total operating expenses declined year over year to $28.66 billion from $34.67 billion.
The company said reported net income came to a loss of $3.62 billion, or a loss of $2.91 per share, in the full year, compared with a loss of $4.45 billion, or a loss of $3.58 per share, the prior year.
