Marathon Oil Corp. Q2 Profit Decreases, but beats estimates

(RTTNews) - Marathon Oil Corp. (MRO) announced earnings for second quarter that decreased from the same period last year but beat the Street estimates.

The company's bottom line totaled $287 million, or $0.47 per share. This compares with $966 million, or $1.37 per share, in last year's second quarter.

Excluding items, Marathon Oil Corp. reported adjusted earnings of $295 million or $0.48 per share for the period.

Analysts on average had expected the company to earn $0.46 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 34.3% to $1.51 billion from $2.30 billion last year.

Marathon Oil Corp. earnings at a glance (GAAP) :

-Earnings (Q2): $287 Mln. vs. $966 Mln. last year. -EPS (Q2): $0.47 vs. $1.37 last year. -Analyst Estimates: $0.46 -Revenue (Q2): $1.51 Bln vs. $2.30 Bln last year.