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Statoil ASA Announces Gain In Q1 Earnings

Statoil ASA (STO) released earnings for its first quarter that increased from last year.

The company's earnings came in at $1.29 billion, or $0.39 per share. This compares with $1.06 billion, or $0.33 per share, in last year's first quarter.

Analysts had expected the company to earn $0.41 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 28.0% to $19.88 billion from $15.53 billion last year.

Statoil ASA earnings at a glance:

-Earnings (Q1): $1.29 Bln. vs. $1.06 Bln. last year.
-EPS (Q1): $0.39 vs. $0.33 last year.
-Analysts Estimate: $0.41
-Revenue (Q1): $19.88 Bln vs. $15.53 Bln last year.

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