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Hess Joins Royal Dutch in Earnings Beat

NEW YORK ( TheStreet) -- Hess (HES - Get Report) beat the Street in its first quarter earnings released on Wednesday morning in the pre-market.

Hess revenue rose by 34% to $9.2 billion, well ahead of the Street consensus revenue number of $8.1 billion. Hess earnings per share of $1.65 per share also far exceeded the Street consensus of $1.09 earnings per share.

Hess shares were up by close to 3% in pre-market trading on Wednesday morning, joining Royal Dutch Shell (RDS.A - Get Report) as the energy early plays on positive earnings on Wednesday.

Royal Dutch Shell reported a profit surge and revenue jump, of 47%, sending its shares up close to 3% in early trading on Wednesday also.

The Hess results were well ahead of the first quarter 2009 comparison, when revenue was at $6.9 billion, and the oil and gas company lost $59 million, or 18 cents per share.

-- Reported by Eric Rosenbaum in New York.

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