ConocoPhillips Q3 Profit Decreases, But Beats Estimates

(RTTNews) - ConocoPhillips (COP) revealed earnings for third quarter that decreased from the same period last year but beat the Street estimates.

The company's earnings came in at $2.059 billion, or $1.76 per share. This compares with $2.798 billion, or $2.32 per share, in last year's third quarter.

Excluding items, ConocoPhillips reported adjusted earnings of $2.081 billion or $1.78 per share for the period.

Analysts on average had expected the company to earn $1.64 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

ConocoPhillips earnings at a glance (GAAP) :

-Earnings (Q3): $2.059 Bln. vs. $2.798 Bln. last year. -EPS (Q3): $1.76 vs. $2.32 last year.