Continental Resources Inc. Q3 Profit Increases, but misses estimates

(RTTNews) - Continental Resources Inc. (CLR) announced earnings for its third quarter that increased from last year but missed the Street estimates.

The company's bottom line came in at $1.01 billion, or $2.80 per share. This compares with $369.33 million, or $1.01 per share, in last year's third quarter.

Excluding items, Continental Resources Inc. reported adjusted earnings of $1.04 billion or $2.88 per share for the period.

Analysts on average had expected the company to earn $2.93 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 82.8% to $2.45 billion from $1.34 billion last year.

Continental Resources Inc. earnings at a glance (GAAP) :

-Earnings (Q3): $1.01 Bln. vs. $369.33 Mln. last year. -EPS (Q3): $2.80 vs. $1.01 last year. -Analyst Estimate: $2.93 -Revenue (Q3): $2.45 Bln vs. $1.34 Bln last year.