Marathon Oil Corp. Q1 Profit Increases, beats estimates

(RTTNews) - Marathon Oil Corp. (MRO) released earnings for its first quarter that increased from last year and beat the Street estimates.

The company's earnings totaled $1.30 billion, or $1.78 per share. This compares with $97 million, or $0.12 per share, in last year's first quarter.

Excluding items, Marathon Oil Corp. reported adjusted earnings of $1.30 billion or $1.02 per share for the period.

Analysts on average had expected the company to earn $0.92 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 63.6% to $1.75 billion from $1.07 billion last year.

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

-Earnings (Q1): $1.30 Bln. vs. $97 Mln. last year. -EPS (Q1): $1.78 vs. $0.12 last year. -Analyst Estimate: $0.92 -Revenue (Q1): $1.75 Bln vs. $1.07 Bln last year.