Continental Resources Inc. Q2 Profit Increases, beats estimates

(RTTNews) - Continental Resources Inc. (CLR) reported a profit for its second quarter that increased from last year and beat the Street estimates.

The company's bottom line totaled $1.21 billion, or $3.35 per share. This compares with $0.29 billion, or $0.79 per share, in last year's second quarter.

Excluding items, Continental Resources Inc. reported adjusted earnings of $1.25 billion or $3.47 per share for the period.

Analysts on average had expected the company to earn $3.18 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 113.7% to $2.65 billion from $1.24 billion last year.

Continental Resources Inc. earnings at a glance (GAAP) :

-Earnings (Q2): $1.21 Bln. vs. $0.29 Bln. last year. -EPS (Q2): $3.35 vs. $0.79 last year. -Analyst Estimate: $3.18 -Revenue (Q2): $2.65 Bln vs. $1.24 Bln last year.