Marathon Oil 3rd quarter profit doubles

The Houston-based oil company said Thursday that net income for the three months ended Sept. 30 amounted to $2.06 billion, or $2.90 a share, compared with $1.02 billion, or $1.49 per share, during the same period a year earlier.

Excluding a gain on overseas natural gas contracts, Marathon's profit was $1.96 billion, or $2.76 per diluted share.

Total revenue rose 38 percent to $23.45 billion.

Analysts surveyed by Thomson Reuters had been expecting earnings of $2.33 per share, on average, and revenue of $23.4 billion. Those forecasts typically exclude one-time adjustments.