Hess Corporation Q2 Profit Decreases, but beats estimates

(RTTNews) - Hess Corporation (HES) released earnings for second quarter that decreased from the same period last year but beat the Street estimates.

The company's bottom line totaled $119 million, or $0.39 per share. This compares with $667 million, or $2.15 per share, in last year's second quarter.

Excluding items, Hess Corporation reported adjusted earnings of $201 million or $0.65 per share for the period.

Analysts on average had expected the company to earn $0.5 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 22.4% to $2.320 billion from $2.988 billion last year.

Hess Corporation earnings at a glance (GAAP) :

-Earnings (Q2): $119 Mln. vs. $667 Mln. last year. -EPS (Q2): $0.39 vs. $2.15 last year. -Analyst Estimates: $0.5 -Revenue (Q2): $2.320 Bln vs. $2.988 Bln last year.