Occidental Petroleum Corp. Q1 Profit Increases, Beats Estimates

(RTTNews) - Occidental Petroleum Corp. (OXY) revealed a profit for its first quarter that increased from last year and beat the Street estimates.

The company's bottom line came in at $766 million, or $0.77 per share. This compares with $718 million, or $0.75 per share, last year.

Excluding items, Occidental Petroleum Corp. reported adjusted earnings of $860 million or $0.87 per share for the period.

Analysts on average had expected the company to earn $0.76 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period rose 13.9% to $6.803 billion from $5.975 billion last year.

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

-Earnings: $766 Mln. vs. $718 Mln. last year. -EPS: $0.77 vs. $0.75 last year. -Revenue: $6.803 Bln vs. $5.975 Bln last year.