CLEVELAND (AP) — CLEVELAND (AP) — Cleveland-Cliffs Inc. (CLF) on Monday reported a loss of $251 million in its third quarter.
The Cleveland-based company said it had a loss of 51 cents per share. Losses, adjusted for non-recurring costs and to account for discontinued operations, were 45 cents per share.
The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for a loss of 48 cents per share.
The mining company posted revenue of $4.73 billion in the period, which did not meet Street forecasts. Six analysts surveyed by Zacks expected $4.89 billion.
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