Statoil ASA said its normalized net income for the second quarter came to 70 Norwegian øre per share, compared with the S&P Capital IQ consensus estimate of 21 øre per share.
EPS declined 42.0% year over year from 1.20 kroner.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 2.21 billion kroner, a decline of 42.0% from 3.82 billion kroner in the prior-year period.
The normalized profit margin dropped to 12.3% from 16.4% in the year-earlier period.
Total revenue fell 32.0% on an annual basis to 15.80 billion kroner from 23.25 billion kroner, and total operating expenses decreased 26.9% year over year to 13.11 billion kroner from 17.94 billion kroner.
Reported net income decreased 34.0% on an annual basis to 1.27 billion kroner, or 40 øre per share, from 1.92 billion kroner, or 61 øre per share.
As of July 28, US$1 was equivalent to 8.19 Norwegian kroner.
