Higher Prices Aid Statoil’s Growth
Statoil ASA’s (NYSE:STO) first-quarter 2012 earnings of 91 cents per ADR marched past the Zacks Consensus Estimate of 78 cents. The quarterly result also showed a significant improvement from the year-earlier earnings of 65 cents per ADR, attributable to higher liquids and gas prices. Adjusted net income after tax came in at NOK16.8 billion (US$2.9 [...]
Statoil ASA’s (NYSE:STO) first-quarter 2012 earnings of 91 cents per ADR marched past the Zacks Consensus Estimate of 78 cents. The quarterly result also showed a significant improvement from the year-earlier earnings of 65 cents per ADR, attributable to higher liquids and gas prices.
Adjusted net income after tax came in at NOK16.8 billion (US$2.9 billion), up from the year-earlier level of NOK 11.9 billion (US$2.1 billion).
Total revenue leaped 29% year over year to NOK195.4 billion ($33.7 … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards