Occidental Petroleum Corp. Q2 Profit Decreases, But Beats Estimates

(RTTNews) - Occidental Petroleum Corp. (OXY) released a profit for second quarter that Decreased from last year but beat the Street estimates.

The company's earnings came in at $288 million, or $0.26 per share. This compares with $992 million, or $1.03 per share, last year.

Excluding items, Occidental Petroleum Corp. reported adjusted earnings of $396 million or $0.39 per share for the period.

Analysts on average had expected the company to earn $0.31 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period fell 6.1% to $6.456 billion from $6.879 billion last year.

Occidental Petroleum Corp. earnings at a glance (GAAP) :

-Earnings: $288 Mln. vs. $992 Mln. last year. -EPS: $0.26 vs. $1.03 last year. -Revenue: $6.456 Bln vs. $6.879 Bln last year.