Occidental Petroleum Corp. Q3 Profit Increases, but misses estimates

(RTTNews) - Occidental Petroleum Corp. (OXY) reported a profit for its third quarter that increased from the same period last year but missed the Street estimates.

The company's bottom line totaled $2.55 billion, or $2.52 per share. This compares with $0.63 billion, or $0.65 per share, in last year's third quarter.

Excluding items, Occidental Petroleum Corp. reported adjusted earnings of $2.47 billion or $2.44 per share for the period.

Analysts on average had expected the company to earn $2.46 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 38.3% to $9.39 billion from $6.79 billion last year.

Occidental Petroleum Corp. earnings at a glance (GAAP) :

-Earnings (Q3): $2.55 Bln. vs. $0.63 Bln. last year. -EPS (Q3): $2.52 vs. $0.65 last year. -Analyst Estimate: $2.46 -Revenue (Q3): $9.39 Bln vs. $6.79 Bln last year.