Occidental Petroleum Corp. Q4 Profit Increases, but misses estimates

(RTTNews) - Occidental Petroleum Corp. (OXY) released a profit for its fourth quarter that increased from the same period last year but missed the Street estimates.

The company's earnings totaled $1.73 billion, or $1.74 per share. This compares with $1.34 billion, or $1.37 per share, in last year's fourth quarter.

Excluding items, Occidental Petroleum Corp. reported adjusted earnings of $1.60 billion or $1.61 per share for the period.

Analysts on average had expected the company to earn $1.80 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 148.7% to $8.33 billion from $3.35 billion last year.

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

-Earnings (Q4): $1.73 Bln. vs. $1.34 Bln. last year. -EPS (Q4): $1.74 vs. $1.37 last year. -Analyst Estimate: $1.80 -Revenue (Q4): $8.33 Bln vs. $3.35 Bln last year.