Freeport-McMoRan Inc. Q2 Profit Increases, Beats Estimates

(RTTNews) - Freeport-McMoRan Inc. (FCX) revealed a profit for its second quarter that increased from last year and beat the Street estimates.

The company's earnings came in at $616 million, or $0.42 per share. This compares with $343 million, or $0.23 per share, in last year's second quarter.

Excluding items, Freeport-McMoRan Inc. reported adjusted earnings of $667 million or $0.46 per share for the period.

Analysts on average had expected the company to earn $0.38 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 15.3% to $6.62 billion from $5.74 billion last year.

Freeport-McMoRan Inc. earnings at a glance (GAAP) :

-Earnings (Q2): $616 Mln. vs. $343 Mln. last year. -EPS (Q2): $0.42 vs. $0.23 last year. -Revenue (Q2): $6.62 Bln vs. $5.74 Bln last year.