Investing.com - ArcelorMittal (NYSE:MT) reported on Thursday third quarter earnings that beat analysts' forecasts and revenue that fell short of expectations.
ArcelorMittal announced earnings per share of $3.61 on revenue of $17.56B. Analysts polled by Investing.com anticipated EPS of $3.46 on revenue of $18.78B.
ArcelorMittal shares are up 27% from the beginning of the year, still down 9.52% from its 52 week high of $30.88 set on August 13. They are outperforming the Euro Stoxx 50 which is up 22.48% from the start of the year.
ArcelorMittal shares gained 2.12% in intra-day trade following the report.
ArcelorMittal follows other major Basic Materials sector earnings this month
ArcelorMittal's report follows an earnings missed by Akzo Nobel on October 20, who reported EPS of $0.93 on revenue of $2.41B, compared to forecasts EPS of $0.941 on revenue of $2.5B.
IMCD NV had beat expectations on Tuesday with third quarter EPS of $1.11 on revenue of $863.1M, compared to forecast for EPS of $0.97 on revenue of $817M.
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