Marathon Oil Corp. Q3 Profit Decreases, but beats estimates

(RTTNews) - Marathon Oil Corp. (MRO) revealed a profit for third quarter that decreased from last year but beat the Street estimates.

The company's bottom line came in at $453 million, or $0.75 per share. This compares with $817 million, or $1.22 per share, in last year's third quarter.

Excluding items, Marathon Oil Corp. reported adjusted earnings of $466 million or $0.77 per share for the period.

Analysts on average had expected the company to earn $0.71 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 19.6% to $1.81 billion from $2.25 billion last year.

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

-Earnings (Q3): $453 Mln. vs. $817 Mln. last year. -EPS (Q3): $0.75 vs. $1.22 last year. -Analyst Estimates: $0.71 -Revenue (Q3): $1.81 Bln vs. $2.25 Bln last year.