CORRECTED - UPDATE 1-Hess first-quarter loss smaller than expected

(Corrects analysts' forecast figure)

* Loss of 18 cts/share beats forecast for loss of 28 cts

* Revenue drops 35 pct to $6.9 bln

NEW YORK, April 29 (Reuters) - Oil producer and refiner Hess Corp (HES.N) on Wednesday reported a first-quarter loss compared with a year-ago profit as lower oil prices and taxes weighed in.

The company had a first-quarter loss of $59 million, or 18 cents per share, compared with a profit of $759 million, or $2.34 per share, a year ago.

Revenue fell 35 percent to $6.9 billion.

Analysts on average had expected a loss of 28 cents a share, according to Reuters Estimates.

Output in the quarter was 390,000 barrels oil equivalent per day, slightly down from the year-ago quarter. (Reporting by Matt Daily, editing by Maureen Bavdek, Dave Zimmerman)