Investing.com - ArcelorMittal (NYSE:MT) reported on Thursday first quarter earnings that beat analysts' forecasts and revenue that fell short of expectations.
ArcelorMittal announced earnings per share of $1.61 on revenue of $13.49B. Analysts polled by Investing.com anticipated EPS of $1.31 on revenue of $13.88B.
ArcelorMittal shares are up 36% from the beginning of the year, still down 1.22% from its 52 week high of $26.18 set on May 6. They are outperforming the AEX which is up 14% from the start of the year.
ArcelorMittal shares lost 0.17% in intra-day trade following the report.
ArcelorMittal follows other major Basic Materials sector earnings this month
ArcelorMittal's report follows an earnings beat by Akzo Nobel on April 21, who reported EPS of $1.18 on revenue of $2.26B, compared to forecasts EPS of $0.9461 on revenue of $2.15B.
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