Freeport-McMoRan Inc. Q3 Profit Increases, Beats Estimates

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

The company's bottom line totaled $526 million, or $0.36 per share. This compares with $454 million, or $0.31 per share, in last year's third quarter.

Excluding items, Freeport-McMoRan Inc. reported adjusted earnings of $556 million or $0.38 per share for the period.

Analysts on average had expected the company to earn $0.35 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 16.6% to $6.790 billion from $5.824 billion last year.

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

-Earnings (Q3): $526 Mln. vs. $454 Mln. last year. -EPS (Q3): $0.36 vs. $0.31 last year. -Revenue (Q3): $6.790 Bln vs. $5.824 Bln last year.