Freeport-McMoRan: 2Q Earnings Snapshot
Posted July 23, 2020 8:06 am.
Last Updated July 23, 2020 8:08 am.
PHOENIX (AP) _ Freeport-McMoRan Inc. (FCX) on Thursday reported second-quarter net income of $53 million, after reporting a loss in the same period a year earlier.
The Phoenix-based company said it had profit of 3 cents per share.
The results topped Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for a loss of 3 cents per share.
The mining company posted revenue of $3.05 billion in the period, which missed Street forecasts. Three analysts surveyed by Zacks expected $3.2 billion.
Freeport-McMoRan shares have climbed almost 4% since the beginning of the year, while the Standard & Poor’s 500 index has increased slightly more than 1%.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on FCX at https://www.zacks.com/ap/FCX
The Associated Press
