PHOENIX (dpa-AFX) - Freeport-McMoRan Inc. (FCX) announced a profit for first quarter that decreased from last year but beat the Street estimates.
The company's bottom line came in at $352 million, or $0.24 per share. This compares with $473 million, or $0.32 per share, last year.
Excluding items, Freeport-McMoRan Inc. reported adjusted earnings of $358 million or $0.24 per share for the period.
Analysts on average had expected the company to earn $0.23 per share. Analysts' estimates typically exclude special items.
The company's revenue for the period fell 9.4% to $5.728 billion from $6.321 billion last year.
Freeport-McMoRan Inc. earnings at a glance (GAAP) :
-Earnings: $352 Mln. vs. $473 Mln. last year. -EPS: $0.24 vs. $0.32 last year. -Revenue: $5.728 Bln vs. $6.321 Bln last year.
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