PHOENIX (AP) — PHOENIX (AP) — Freeport-McMoRan Inc. (FCX) on Thursday reported third-quarter profit of $674 million.
On a per-share basis, the Phoenix-based company said it had net income of 46 cents. Earnings, adjusted for non-recurring costs, came to 50 cents per share.
The results exceeded Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 41 cents per share.
The mining company posted revenue of $6.97 billion in the period, also surpassing Street forecasts. Five analysts surveyed by Zacks expected $6.54 billion.
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