PHOENIX (dpa-AFX) - Freeport-McMoRan Copper & Gold Inc. (FCX) reported that its second-quarter net income attributable to common stock was $1.37 billion or $1.43 per share, up from $649 million or $0.70 per share in the year ago quarter.
Analysts polled by Thomson Reuters expected the company to report earnings of $1.37 per share for the quarter. Analysts' estimates typically exclude special items.
Revenues for the quarter rose to $5.814 billion from $3.864 billion in the prior year quarter. Eight analysts had consensus revenue estimate of $5.76 billion for the quarter.
James Moffett, Chairman of the Board, and Richard Adkerson, President and Chief Executive Officer, said, 'Our second-quarter results reflect strong operating performance and favorable pricing for our products.'
Consolidated sales from mines for the year 2011 are expected to approximate 3.9 billion pounds of copper, 1.6 million ounces of gold and 77 million pounds of molybdenum, including 940 million pounds of copper, 415 thousand ounces of gold and 18 million pounds of molybdenum for third-quarter 2011.
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