Marathon Oil Profit Nearly Triples after Angola Sale
Photo: Marathon Oil Corp
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)
