Hess quarterly profit beats Wall Street estimates

Jan 25 (Reuters) – Oil and gas producer Hess Corp on Wednesday beat Wall Street estimates for fourth-quarter profit, boosted by higher crude prices as Russia’s invasion of Ukraine crimped global energy supplies.

The New York City-headquartered company reported net income excluding items of $548 million, or $1.78 per share, for the three months ended Dec. 31, compared with analysts’ estimate of $1.64 per share, according to Refinitiv data. (Reporting by Sourasis Bose in Bengaluru Editing by Vinay Dwivedi)