Company News: Freeport-McMoRan (FCX) reported weaker than expected fourth quarter earnings, but revenue exceeds forecasts

Market news

27 January 2015

Company News: Freeport-McMoRan (FCX) reported weaker than expected fourth quarter earnings, but revenue exceeds forecasts

Freeport-McMoRan (FCX) earned $0.25 per share in the fourth quarter, missing analysts' estimate of $0.35. Revenue in the fourth quarter dropped 11.00% year-over-year to $5.24 billion, missing analysts' estimate of $4.89 billion.

The company has taken steps to significantly reduce capital spending due to falling oil prices.

Freeport-McMoRan (FCX) shares decreased to $18.05 (-7.72%) prior to the opening bell.

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