CLEVELAND (AP) — CLEVELAND (AP) — Cleveland-Cliffs Inc. (CLF) on Monday reported a loss of $237 million in its first quarter.
On a per-share basis, the Cleveland-based company said it had a loss of 42 cents. Losses, adjusted for non-recurring costs and to account for discontinued operations, were 40 cents per share.
The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of 44 cents per share.
The mining company posted revenue of $4.92 billion in the period, also surpassing Street forecasts. Five analysts surveyed by Zacks expected $4.83 billion.
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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 CLF at https://www.zacks.com/ap/CLF
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