Marathon Petroleum Corporation Q2 Profit Increases, beats estimates

(RTTNews) - Marathon Petroleum Corporation (MPC) revealed a profit for second quarter that decreased from last year and beat the Street estimates.

The company's earnings came in at $5.87 billion, or $10.95 per share. This compares with $8.51 billion, or $13.00 per share, in last year's second quarter.

Excluding items, Marathon Petroleum Corporation reported adjusted earnings of $5.69 billion or $10.61 per share for the period.

Analysts on average had expected the company to earn $8.04 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 81.8% to $54.24 billion from $29.83 billion last year.

Marathon Petroleum Corporation earnings at a glance (GAAP) :

-Earnings (Q2): $5.87 Bln. vs. $8.51 Bln. last year. -EPS (Q2): $10.95 vs. $13.00 last year. -Analyst Estimates: $8.04 -Revenue (Q2): $54.24 Bln vs. $29.83 Bln last year.