Investing.com - ArcelorMittal (NYSE:MT) reported on Thursday second quarter earnings that beat analysts' forecasts and revenue that topped expectations.
ArcelorMittal announced earnings per share of $4.19 on revenue of $21.88B. Analysts polled by Investing.com anticipated EPS of $3.82 on revenue of $21.07B.
ArcelorMittal shares are down 16% from the beginning of the year, still down 28.43% from its 52 week high of $33.01 set on January 12. They are under-performing the CAC 40 which is down 12.57% from the start of the year.
ArcelorMittal shares gained 4.12% in intra-day trade following the report.
ArcelorMittal follows other major Materials sector earnings this month
ArcelorMittal's report follows an earnings missed by Akzo Nobel on July 18, who reported EPS of $0.84 on revenue of $2.85B, compared to forecasts EPS of $1.02 on revenue of $2.83B.
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