Freeport-McMoRan: Q1 Earnings Snapshot

PHOENIX (AP) — PHOENIX (AP) — Freeport-McMoRan Inc. (FCX) on Friday reported first-quarter profit of $663 million.

On a per-share basis, the Phoenix-based company said it had net income of 46 cents. Earnings, adjusted for non-recurring costs, came to 52 cents per share.

The results surpassed Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 47 cents per share.

The mining company posted revenue of $5.39 billion in the period, which did not meet Street forecasts. Eight analysts surveyed by Zacks expected $5.45 billion.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on FCX at https://www.zacks.com/ap/FCX