Chesapeake Energy (CHK): Q3 EPS of $0.72 beats by $0.06. Revenue of $4B (+54% Y/Y) beats by $860M.
Q3 blows out estimates on all fronts as the company reports a 54% jump in revenue Y/Y, primarily due to windfall profits from hedging operations and a 9% jump in liquids production. Separately, the company says it's selling a 25% stake in a portion of its Utica Shale play - 650K net acres - in a joint venture to undisclosed buyers for $3.4B.
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