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Diamondback Energy Q2 Adjusted Earnings, Revenue Rise

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Diamondback Energy (FANG) reported Q2 adjusted earnings late Monday of $6.48 per diluted share, up from $2.67 a year earlier.

Analysts surveyed by FactSet expected $6.08.

Revenue for the quarter ended June 30 rose to $5.56 billion from $3.68 billion a year earlier.

Analysts expected $4.89 billion.

The company maintained its base cash dividend at $1.10 per share, payable Aug. 20 to stockholders of record Aug. 13.

Also, the company said its board doubled the share repurchase authorization to $16 billion, excluding excise tax, leaving about $9.9 billion available as of July 31.

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