Chesapeake Energy said on Monday its quarterly profit fell sharply from a year ago as lower natural gas prices hurt results and the year-ago period was boosted by a large gain related to hedging. Net profit in the quarter was $186 million (30￠/share) compared with $3.29 billion ($5.62/share) in the same period a year ago. Excluding one-time items, the Oklahoma City-based company had earnings of $440 million (70￠/share).
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