The first-quarter earnings of Noble Energy, Inc. (NBL), an independent exploration and production company, were presented on May 8. The analyst community failed to predict its quarterly revenue, which fell to $1.02 billion vs. $1.052 billion in 1Q19. However, adjusted earnings per share were in line with expectations of Wall Street, which signifies the company's cost-saving efforts instated to bolster margins amid depressed commodity prices have been bearing fruit.
On a negative side, the company's profit was still sub-zero, dragged down by impairment and exploration expenses. LTM GAAP net income has been