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.
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
Keywords: Marathon Oil, Earnings Report