Investing.com - ArcelorMittal (NYSE:MT) reported on Thursday fourth quarter earnings that beat analysts' forecasts and revenue that topped expectations.
ArcelorMittal announced earnings per share of $3.43 on revenue of $18.21B. Analysts polled by Investing.com anticipated EPS of $3.11 on revenue of $17.89B.
ArcelorMittal shares are down 0% from the beginning of the year, still down 13.40% from its 52 week high of $33.01 set on January 12. They are outperforming the SMI which is down 3.99% from the start of the year.
ArcelorMittal shares lost 2.77% in intra-day trade following the report.
ArcelorMittal follows other major Materials sector earnings this month
ArcelorMittal's report follows an earnings beat by Akzo Nobel on Wednesday, who reported EPS of $0.74 on revenue of $2.4B, compared to forecasts EPS of $0.5766 on revenue of $2.43B.
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