Marathon Oil Q2 Profit Rises

(RTTNews) - Marathon Oil Corp. (MRO) reported net income for the second quarter of $540 million or $0.80 per share, compared to $426 million or $0.60 per share for the year-ago quarter.

Income from continuing operations, which excludes Norway and Angola, for the second quarter was $360 million or $0.53 per share, compared to $241 million or $0.34 per share in the prior year quarter.

Excluding items, adjusted net income for the second quarter was $603 million or $0.89 per share, compared to $478 million or $0.67 per share in the second quarter of last year.

Adjusted income from continuing operations for the second quarter was $423 million or $0.62 per share, compared to $293 million, or $0.41 per share in last year's second quarter.

Total revenue and other income declined to $2.94 billion from $2.99 billion a year ago.

Analysts polled by Thomson Reuters expected the company to earn $0.75 per share on revenue of $3.40 billion for the second quarter. Analysts' estimates typically exclude special items.