Woodside's shares gain as first-quarter revenue fuels up, beating expectations

Roshan Thomas - Reuters - 04:21
Shares of Australia's Woodside Energy were up nearly 4% on Wednesday after the gas producer posted first-quarter revenue above estimates.
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April 23 (Reuters) - Shares of Australia's Woodside Energy (WDS.AX), opens new tab were up nearly 4% on Wednesday after the gas producer posted first-quarter revenue above estimates.
Perth-based Woodside reported revenue of $3.32 billion for the quarter ended March 31, beating a Visible Alpha consensus estimate of $2.79 billion and up from the $2.95 billion reported a year ago.

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The revenue boost came from the July 2024 start-up of its Senegal-based Sangomar project and strong gas hub-linked prices, Woodside said.
Shares of the company rose as much as 3.9% to A$20.470 as of 0036 GMT, while the broader energy sub-index (.AXEJ), opens new tab gained 3.1%, tracking a rise in global oil prices.
Gas hub-linked prices, which Woodside benefited from, are determined by trading at specific natural gas hubs, differing from oil-linked prices that typically follow crude oil market trends.
"Investors were buoyed by the news...
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