July 31, 2012 / 9:05 PM / 5 years ago

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.

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