Marathon Oil reports 4Q loss

Marathon Oil reports 4th-quarter loss but tops expectations

HOUSTON (AP) _ Marathon Oil Corp. (MRO) on Wednesday reported a loss of $1.37 billion in its fourth quarter.

On a per-share basis, the Houston-based company said it had a loss of $1.62. Losses, adjusted for non-recurring costs, came to 10 cents per share.

The results exceeded Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for a loss of 13 cents per share.

The energy company posted revenue of $1.39 billion in the period, also beating Street forecasts. Four analysts surveyed by Zacks expected $1.19 billion.

For the year, the company reported that its loss narrowed to $2.14 billion, or $2.61 per share. Revenue was reported as $4.65 billion.

Marathon Oil shares have fallen almost 6 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed nearly 5 percent. In the final minutes of trading on Wednesday, shares hit $16.30, more than doubling in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MRO at https://www.zacks.com/ap/MRO

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Keywords: Marathon Oil, Earnings Report

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