Marathon Oil Corp. Q3 Profit Increases, beats estimates

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

The company's earnings totaled $817 million, or $1.22 per share. This compares with $184 million, or $0.23 per share, in last year's third quarter.

Excluding items, Marathon Oil Corp. reported adjusted earnings of $832 million or $1.24 per share for the period.

Analysts on average had expected the company to earn $1.19 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 55.2% to $2.25 billion from $1.45 billion last year.

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

-Earnings (Q3): $817 Mln. vs. $184 Mln. last year. -EPS (Q3): $1.22 vs. $0.23 last year. -Analyst Estimate: $1.19 -Revenue (Q3): $2.25 Bln vs. $1.45 Bln last year.