PITTSBURGH (AP) — PITTSBURGH (AP) — United States Steel Corp. (X) on Thursday reported a loss of $116 million in its first quarter.
The Pittsburgh-based company said it had a loss of 52 cents per share. Losses, adjusted for one-time gains and costs, came to 39 cents per share.
The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of 48 cents per share.
The steel maker posted revenue of $3.73 billion in the period, also exceeding Street forecasts. Eight analysts surveyed by Zacks expected $3.62 billion.
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