Investing.com - ArcelorMittal (NYSE:MT) reported on Thursday first quarter earnings that beat analysts' forecasts and revenue that topped expectations.
ArcelorMittal announced earnings per share of $4.05 on revenue of $20.7B. Analysts polled by Investing.com anticipated EPS of $2.97 on revenue of $19.35B.
ArcelorMittal shares are down 0% from the beginning of the year, still down 15.46% from its 52 week high of $33.01 set on January 12. They are outperforming the AEX which is down 10.94% from the start of the year.
ArcelorMittal shares gained 3.79% in intra-day trade following the report.
ArcelorMittal follows other major Materials sector earnings this month
ArcelorMittal's report follows an earnings beat by Koninklijke DSM on Tuesday, who reported EPS of $1.36 on revenue of $2.59B, compared to forecasts EPS of $1.18 on revenue of $2.44B.
Akzo Nobel had beat expectations on April 22 with first quarter EPS of $0.86 on revenue of $2.53B, compared to forecast for EPS of $0.7977 on revenue of $2.52B.
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