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Earnings Climb at Hess

Revenue for the third quarter rises.


(HES) - Get Hess Corporation (HES) Report

said its third-quarter profits rose 9% year over year despite a sizable charge in the 2006 period.

The oil company formerly known as Amerada Hess earned $297 million, or 94 cents a share, on sales of $7.04 billion in the third quarter. The latest quarter includes a $105 million charge for a U.K. supplementary tax.

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Hess had net income of $272 million and 87 cents a share, with sales of $6.72 billion for the same quarter last year.

Oil and gas production was 352,000 barrels of oil equivalent a day in the third quarter, up 40,000 barrels from a year ago.

Shares of Hess rose 2.5% to $43.50 Wednesday.