Hess Corporation Q3 Profit Decreases, but beats estimates

(RTTNews) - Hess Corporation (HES) announced a profit for third quarter that decreased from the same period last year but beat the Street estimates.

The company's earnings came in at $504 million, or $1.64 per share. This compares with $515 million, or $1.67 per share, in last year's third quarter.

Excluding items, Hess Corporation reported adjusted earnings of $504 million or $1.64 per share for the period.

Analysts on average had expected the company to earn $1.17 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 10.1% to $2.84 billion from $3.16 billion last year.

Hess Corporation earnings at a glance (GAAP) :

-Earnings (Q3): $504 Mln. vs. $515 Mln. last year. -EPS (Q3): $1.64 vs. $1.67 last year. -Analyst Estimates: $1.17 -Revenue (Q3): $2.84 Bln vs. $3.16 Bln last year.