Hess Corp. Q4 Profit Tops Estimates

(RTTNews) - Hess Corporation (HES) reported fourth quarter net income of $265 million, or $0.85 per share, compared to a net loss of $97 million, or $0.32 per share, a year ago. In the prior-year quarter, on an adjusted basis, the Corporation reported a net loss of $176 million, or $0.58 per share.

On average, 18 analysts polled by Thomson Reuters expected the company to report profit per share of $0.73, for the quarter. Analysts' estimates typically exclude special items.

Total revenues and non-operating income increased to $2.26 billion from $1.42 billion, prior year. Analysts on average had estimated $1.73 billion in revenue.

Shares of Hess Corporation were up 4% in pre-market trade on Wednesday.