Marathon Oil Corp. Q2 Profit Increases, But Misses Estimates

(RTTNews) - Marathon Oil Corp. (MRO) reported a profit for its second quarter that increased from last year but missed the Street estimates.

The company's bottom line came in at $349 million, or $0.62 per share. This compares with $287 million, or $0.47 per share, in last year's second quarter.

Excluding items, Marathon Oil Corp. reported adjusted earnings of $357 million or $0.63 per share for the period.

Analysts on average had expected the company to earn $0.69 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 12.8% to $1.707 billion from $1.513 billion last year.

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

-Earnings (Q2): $349 Mln. vs. $287 Mln. last year. -EPS (Q2): $0.62 vs. $0.47 last year. -Revenue (Q2): $1.707 Bln vs. $1.513 Bln last year.