Hess Corporation Q2 Profit Increases, Beats Estimates

(RTTNews) - Hess Corporation (HES) reported a profit for its second quarter that increased from last year and beat the Street estimates.

The company's bottom line came in at $757 million, or $2.46 per share. This compares with $119 million, or $0.39 per share, in last year's second quarter.

Excluding items, Hess Corporation reported adjusted earnings of $809 million or $2.62 per share for the period.

Analysts on average had expected the company to earn $2.48 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 40.3% to $3.255 billion from $2.320 billion last year.

Hess Corporation earnings at a glance (GAAP) :

-Earnings (Q2): $757 Mln. vs. $119 Mln. last year. -EPS (Q2): $2.46 vs. $0.39 last year. -Revenue (Q2): $3.255 Bln vs. $2.320 Bln last year.