Supermajor sends positive surprise report with near-billion-dollar loss
It might be that Conoco Phillips lands in a deficit almost a billion dollars deep for Q4'20, but the US oil giant has still surpassed market forecasts.
It might seem somewhat odd that Conoco Phillips' net loss of USD 800 million (7.2 cents per share) booked for merely a three-month period could be seen as positive, but that's nonetheless the case with the group's performance in last year's fourth quarter, at least according to analysts at Factset, which had otherwise compiled a consensus outlook projecting that the company would end up losing USD 0.19 per share during the quarter.
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