(Boursier.com) — Freeport-McMoRan, the mining giant active in particular in copper, posted a profit in the first quarter that exceeded market expectations, with the help of the recovery in Chinese demand. Adjusted earnings per share for the quarter ended March were 52 cents, versus 45 cents consensus. Revenue reached $5.39 billion in the period, also beating market expectations. It remains down sharply from $6.6 billion in the first quarter of 2022. Operating profit was $1.6 billion for the quarter ended. Net income attributable to common shareholders was $663 million, compared with $1.53 billion a year earlier. Operating cash flow exceeds one billion dollars, but it was 1.69 billion a year earlier.
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