Marathon Petroleum second-quarter profit increases 44 percent, tops analyst estimate

Marathon Petroleum Corp. (MPC) on Thursday reported earnings that rose by 44 percent in its second quarter, and topped analysts' expectations.

The Findlay, Ohio-based oil refiner said net income rose to $855 million, or $2.95 per share, from $593 million, or $1.83 per share, in the same quarter a year earlier. The average estimate of analysts surveyed by Zacks Investment Research was for profit of $2.15 per share.

Revenue rose 5 percent, to $26.93 billion from $25.7 billion.

Marathon Petroleum shares rose $4.50, or 5.7 percent, to $83.48 Thursday. The stock has dropped 9 percent this year.