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Freeport-McMoRan: Q3 Earnings Snapshot

Freeport-McMoRan: Q3 Earnings Snapshot

PHOENIX (AP) — PHOENIX (AP) — Freeport-McMoRan Inc. (FCX) on Thursday reported third-quarter profit of $454 million.

The Phoenix-based company said it had net income of 31 cents per share. Earnings, adjusted for non-recurring costs, came to 39 cents per share.

The results exceeded Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 32 cents per share.

The mining company posted revenue of $5.82 billion in the period, which also beat Street forecasts. Four analysts surveyed by Zacks expected $5.53 billion.