Freeport-McMoRan Beats Estimates with First Quarter Profit

Bloomberg reported that Freeport-McMoRan’s first quarter profits beat estimates, lifted by strong copper sales.

As quoted in the market report:

Freeport said first-quarter copper sales rose to 954 million pounds, from 827 million pounds a year earlier. That compared with Freeport’s Jan. 22 forecast of 940 million pounds, while the average of four estimates compiled by Bloomberg was for 943.5 million. Gold sales were 214,000 ounces, compared with 288,000 ounces in the first quarter of 2012.

To view the whole Bloomberg report, click here.