Freeport-McMoRan: Q4 Earnings Snapshot

PHOENIX (AP) _ Freeport-McMoRan Inc. (FCX) on Wednesday reported fourth-quarter net income of $697 million.

The Phoenix-based company said it had profit of 48 cents per share. Earnings, adjusted for non-recurring costs, came to 52 cents per share.

The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 40 cents per share.

The mining company posted revenue of $5.76 billion in the period, which also beat Street forecasts. Three analysts surveyed by Zacks expected $5.34 billion.

For the year, the company reported profit of $3.47 billion, or $2.39 per share. Revenue was reported as $22.78 billion.


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