Marathon Oil Corp. Q1 Profit Decreases, but beats estimates

(RTTNews) - Marathon Oil Corp. (MRO) announced a profit for first quarter that decreased from last year but beat the Street estimates.

The company's earnings came in at $417 million, or $0.66 per share. This compares with $1304 million, or $1.78 per share, in last year's first quarter.

Excluding items, Marathon Oil Corp. reported adjusted earnings of $420 million or $0.67 per share for the period.

Analysts on average had expected the company to earn $0.60 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 4.0% to $1.68 billion from $1.75 billion last year.

Marathon Oil Corp. earnings at a glance (GAAP) :

-Earnings (Q1): $417 Mln. vs. $1304 Mln. last year. -EPS (Q1): $0.66 vs. $1.78 last year. -Analyst Estimates: $0.60 -Revenue (Q1): $1.68 Bln vs. $1.75 Bln last year.