PHOENIX (AP) — PHOENIX (AP) — Freeport-McMoRan Inc. (FCX) on Wednesday reported fourth-quarter earnings of $388 million.
On a per-share basis, the Phoenix-based company said it had net income of 27 cents.
The results exceeded Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 21 cents per share.
The mining company posted revenue of $5.91 billion in the period, also surpassing Street forecasts. Four analysts surveyed by Zacks expected $5.82 billion.
For the year, the company reported profit of $1.85 billion, or $1.28 per share. Revenue was reported as $22.86 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