PHOENIX (dpa-AFX) - Freeport-McMoRan Inc. (FCX) reported earnings for fourth quarter that decreased from the same period last year but beat the Street estimates.
The company's bottom line totaled $0.70 billion, or $0.48 per share. This compares with $1.11 billion, or $0.74 per share, in last year's fourth quarter.
Excluding items, Freeport-McMoRan Inc. reported adjusted earnings of $0.75 billion or $0.52 per share for the period.
Analysts on average had expected the company to earn $0.43 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter fell 6.5% to $5.76 billion from $6.16 billion last year.
Freeport-McMoRan Inc. earnings at a glance (GAAP) :
-Earnings (Q4): $0.70 Bln. vs. $1.11 Bln. last year. -EPS (Q4): $0.48 vs. $0.74 last year. -Analyst Estimates: $0.43 -Revenue (Q4): $5.76 Bln vs. $6.16 Bln last year.
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