HOUSTON (AP) _ Marathon Oil Corp. (MRO) on Wednesday reported a loss of $ 407 million in its first quarter.
The Houston-based company said it had a loss of 56 cents per share. Losses, adjusted for non-recurring costs, were 43 cents per share.
The results surpassed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for a loss of 47 cents per share.
The energy company posted revenue of $ 730 million in the period.
Marathon Oil shares have decreased slightly more than 3 percent since the beginning of the year, while the Standard & Poor’s 500 index has stayed nearly flat. In the final minutes of trading on Wednesday, shares hit $ 12.17, a fall of 61 percent 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 http://www.zacks.com/ap/MRO
Keywords: Marathon Oil, Earnings Report