UPDATE: Hess Reports 62% Surge In Q2 Profit

Hess Corp HES reported a 62% rise in its second-quarter profit. Hess reported its quarterly profit at $607 million, or $1.78 per share, up from $375 million, or $1.15 per share, in the year-earlier period. The company's exploration and production profit climbed to $747 million from $488 million, while its refining unit's loss increased to $39 million from $19 million. Analysts were expecting earnings of $1.92 per share. Hess shares dropped 3.35% to $70.64 in pre-market trading.