In the most recent quarter, Freeport-McMoran Copper & Gold (NYSE:FCX) saw both its revenue and profit decline.
Earnings and Revenue The company's revenues met Wall Street's expectations, though the company's EPS fell short of predictions. The company reported EPS of 74 cents a share versus the 79 cents a share estimate and revenues of $4.47 billion versus the $4.48 billion estimate. The estimates of 15 analysts ranged from profit of 64 cents to profit of 98 cents.
Continue Reading Below
The company's net income for the quarter was $710 million. This is a 48.1% decline from last year. Revenue fell 23% from $5.81 billion in the same period last year.
Company Fundamental Trends The company has now reported lower net income at least in each of the last four quarters. Last quarter marks the third in a row in which The company has seen falling revenue on a year-over-year basis.
History Against Expectations The company missed forecasts after topping estimates in the previous two quarters. In the first quarter, it topped the mark by 11 cents, and in the fourth quarter of the last fiscal year, it was ahead by 3 cents.
Estimates provided by Zacks Investment Research and company fundamentals from Xignite Financials.