Marathon Oil Q1 Profit Rises On Lower Taxes - Quick Facts

(RTTNews) - Marathon Oil Corp. (MRO) reported that its first-quarter income from continuing operations increased to $540 million or $0.77 per share, from $380 million or $0.54 per share, last year. Income from continuing operations before income taxes was $1.13 billion, compared to $1.37 billion, a year ago.

The company reported first-quarter net income of $1.15 billion, or $1.65 per share, compared to $383 million, or $0.54 per share, prior year. Adjusted net income was $613 million, or $0.88 per share, for the quarter.

On average, 25 analysts polled by Thomson Reuters expected the company to report profit per share of $0.72 for the quarter. Analysts' estimates typically exclude special items.

Total revenues and other income decreased to $3.53 billion, compared to $4.02 billion. Analysts expected revenue of $3.38 billion for the quarter.