Eni Beats Estimates Despite 49% Profit Decline ...Middle East

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Eni’s (NYSE: E) adjusted net profit for the second quarter exceeded analyst estimates thanks to a very strong gas business despite the 49% earnings slump compared to last year’s second quarter. Eni reported on Friday an adjusted net profit of $2.13 billion (1.935 billion euros) for the second quarter, down by 49% on the year. The earnings nevertheless beat the analyst consensus estimate of $1.8 billion (1.64 billion euros). Adjusted profit before tax fell by 41%, but it is “a highly robust outcome given the 30% fall…

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