HOUSTON (AP) — HOUSTON (AP) — Marathon Oil Corp. (MRO) on Wednesday reported fourth-quarter profit of $397 million.
On a per-share basis, the Houston-based company said it had net income of 68 cents. Earnings, adjusted for non-recurring costs, came to 69 cents per share.
The results surpassed Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 62 cents per share.
The energy company posted revenue of $1.69 billion in the period, also topping Street forecasts. Seven analysts surveyed by Zacks expected $1.66 billion.
For the year, the company reported profit of $1.55 billion, or $2.56 per share. Revenue was reported as $6.7 billion.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MRO at https://www.zacks.com/ap/MRO