Occidental Petroleum Corp. Profit Rises 3416% In Q1

(RTTNews) - Occidental Petroleum Corp. (OXY) revealed earnings for its first quarter that rose from last year.

The company said its bottom line came in at $1.09 billion, or $1.38 per share. This was up from $31 million, or $0.04 per share, in last year's first quarter.

Analysts had expected the company to earn -$0.40 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter rose 60.5% to $4.96 billion. This was up from $3.09 billion last year.

Occidental Petroleum Corp. earnings at a glance:

-Earnings (Q1): $1.09 Bln. vs. $31 Mln. last year. -Earnings Growth (Y-o-Y): 3416.1% -EPS (Q1): $1.38 vs. $0.04 last year. -EPS Growth (Y-o-Y): 3350.0% -Analysts Estimate: -$0.40 -Revenue (Q1): $4.96 Bln vs. $3.09 Bln last year. -Revenue Change (Y-o-Y): 60.5%