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StatOil's Net Income Falls

Stock quotes in this article: STO , RDS-A , BP  

The Norwegian national oil giant StatoilHydro(STO Quote)reported Tuesday that its net income in the fourth quarter fell 67% compared to the same period a year ago.

StatoilHydro generated quarterly earnings of 2.00 billion kroner ($298 million), or 0.63 kroner per share, down from 6.15 billion kroner, or 1.93 kroner per share, one year earlier. A Bloomberg survey of analysts had forecast a 409 kroner loss.

StatOil's American depositary shares were recently trading at $16.73, down $1.40, or 7.72%. ...

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