Marathon Oil profit nearly triples after Angola asset sale

Tue May 6, 2014 4:59pm EDT

May 6 (Reuters) - Marathon Oil Corp said on Tuesday that first-quarter profit nearly tripled, helped in part by recent asset sales.

The company posted net income of $1.15 billion, or $1.65 per share, compared with $383 million, or 54 cents per share, in the year-ago period.

Marathon closed on the sale of its Angola assets in the first quarter, posting an after-tax gain of $576 million.

Excluding the sale and other one-time items, Marathon posted net income of 88 cents per share. (Reporting by Ernest Scheyder)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.