Murphy Oil Q2 Profit Decreases, But Beats Estimates

(RTTNews) - Murphy Oil (MUR) reported a profit for second quarter that Decreased from last year but beat the Street estimates.

The company's bottom line totaled $22.28 million, or $0.16 per share. This compares with $127.74 million, or $0.83 per share, last year.

Excluding items, Murphy Oil reported adjusted earnings of $38.5 million or $0.27 per share for the period.

Analysts on average had expected the company to earn $0.17 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period fell 13.4% to $695.57 billion from $802.77 billion last year.

Murphy Oil earnings at a glance (GAAP) :

-Earnings: $22.28 Mln. vs. $127.74 Mln. last year. -EPS: $0.16 vs. $0.83 last year. -Revenue: $695.57 Bln vs. $802.77 Bln last year.