Pioneer Natural Resources profit misses estimates
July 31 (Reuters) - Oil and gas producer Pioneer Natural Resources Co reported a smaller-than-expected quarterly profit due to lower realized prices and higher costs.
The company posted a second-quarter loss of $70.4 million, or 57 cents per share, compared with a profit of $245.6 million, or $2.03 per share, a year earlier.
Excluding one-time items, the company posted a profit of 78 cents per share.
Analysts on average were expecting the company to earn 97 cents per share, according to Thomson Reuters I/B/E/S.
Revenue rose 14 percent to $641 million.
Pioneer shares closed at $88.63 on Tuesday on the New York Stock Exchange.