Continental Resources Inc. Q1 Profit Increases, beats estimates

(RTTNews) - Continental Resources Inc. (CLR) revealed a profit for its first quarter that increased from last year and beat the Street estimates.

The company's bottom line totaled $597.76 million, or $1.65 per share. This compares with $259.64 million, or $0.72 per share, in last year's first quarter.

Excluding items, Continental Resources Inc. reported adjusted earnings of $959.99 million or $2.65 per share for the period.

Analysts on average had expected the company to earn $2.34 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 49.2% to $1.82 billion from $1.22 billion last year.

Continental Resources Inc. earnings at a glance (GAAP) :

-Earnings (Q1): $597.76 Mln. vs. $259.64 Mln. last year. -EPS (Q1): $1.65 vs. $0.72 last year. -Analyst Estimate: $2.34 -Revenue (Q1): $1.82 Bln vs. $1.22 Bln last year.