Marathon Petroleum Corporation Announces Drop In Q1 Profit, but beats estimates

(RTTNews) - Marathon Petroleum Corporation (MPC) reported a profit for first quarter that decreased from the same period last year but beat the Street estimates.

The company's bottom line totaled $937 million, or $2.58 per share. This compares with $2.72 billion, or $6.09 per share, in last year's first quarter.

Analysts on average had expected the company to earn $2.42 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 8.2% to $32.21 billion from $35.08 billion last year.

Marathon Petroleum Corporation earnings at a glance (GAAP) :

-Earnings (Q1): $937 Mln. vs. $2.72 Bln. last year. -EPS (Q1): $2.58 vs. $6.09 last year. -Revenue (Q1): $32.21 Bln vs. $35.08 Bln last year.