Hess Corporation Q3 Profit Decreases, But Beats Estimates

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

The company's bottom line came in at $498 million, or $1.62 per share. This compares with $504 million, or $1.64 per share, in last year's third quarter.

Excluding items, Hess Corporation reported adjusted earnings of $660 million or $2.14 per share for the period.

Analysts on average had expected the company to earn $1.77 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 12.7% to $3.197 billion from $2.837 billion last year.

Hess Corporation earnings at a glance (GAAP) :

-Earnings (Q3): $498 Mln. vs. $504 Mln. last year. -EPS (Q3): $1.62 vs. $1.64 last year. -Revenue (Q3): $3.197 Bln vs. $2.837 Bln last year.