July 31, 2018 / 8:16 PM / 3 months ago

Devon reports quarterly loss compared with year-ago profit

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

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. (Reporting by Karan Nagarkatti in Bengaluru; Editing by Arun Koyyur)

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