WASHINGTON (dpa-AFX) - Marathon Oil Corp. (MRO) reported a profit for first quarter that decreased from last year but beat the Street estimates.
The company's earnings totaled $297 million, or $0.52 per share. This compares with $417 million, or $0.66 per share, in last year's first quarter.
Excluding items, Marathon Oil Corp. reported adjusted earnings of $317 million or $0.55 per share for the period.
Analysts on average had expected the company to earn $0.54 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter fell 7.7% to $1.55 billion from $1.68 billion last year.
Marathon Oil Corp. earnings at a glance (GAAP) :
-Earnings (Q1): $297 Mln. vs. $417 Mln. last year. -EPS (Q1): $0.52 vs. $0.66 last year. -Revenue (Q1): $1.55 Bln vs. $1.68 Bln last year.
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