Paramount stock rises after FCC approves Skydance merger
Investing.com -- Freeport-McMoRan reported second-quarter earnings and revenue above Wall Street expectations helped by stronger copper production and sales.
Though shares slipped 1% in premarket trading.
The U.S. miner posted adjusted earnings of $0.54 per share, beating analysts’ average estimate of $0.45.
Revenue rose to $7.58 billion from $5.74 billion a year earlier, topping the $7.19 billion consensus.
Net income attributable to common stock was $772 million, or $0.53 per share. Excluding net charges of $18 million, adjusted net income came to $790 million, or $0.54 per share.
“We are challenging ourselves to improve efficiencies and leverage new technologies to drive better performance and grow production more quickly with lower capital intensity,” said CEO Kathleen Quirk.
Statement said company was improving efficiency and leveraging technology to boost production across its copper, gold and molybdenum operations.
Freeport also emphasized its strong balance sheet and pipeline of organic growth projects in both the U.S. and overseas.