Marathon 2Q Profits Plunge with Oil Prices

Wednesday, August 05, 2009

According to an Associated Press report, Marathon Oil Corp. said its second-quarter profit fell 47 percent from a year ago when crude barrels fetched twice the price. Houston-based Marathon said net income of $413m, or 58 cents a share for the April-June period. That compared with earnings of $774m, or $1.08 a share, in the same quarter last year.

(Associated Press)

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