U.S. Markets open in 4 hrs 24 mins

Marathon Oil: 1Q Earnings Snapshot

HOUSTON (AP) _ Marathon Oil Corp. (MRO) on Wednesday reported first-quarter earnings of $174 million.

On a per-share basis, the Houston-based company said it had profit of 21 cents. Earnings, adjusted for non-recurring costs, were 31 cents per share.

The results topped Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of 6 cents per share.

The energy company posted revenue of $1.2 billion in the period, which fell short of Street forecasts. Seven analysts surveyed by Zacks expected $1.23 billion.

Marathon Oil shares have climbed 15% since the beginning of the year, while the Standard & Poor's 500 index has climbed 17%. In the final minutes of trading on Wednesday, shares hit $16.53, a decline of 9% in the last 12 months.


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