Summary Box: Freeport-McMoRan 2Q profit surges

AP News
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Posted: Jul 21, 2011 4:01 PM

BY THE NUMBERS: Freeport-McMoRan Copper & Gold Inc. reported second-quarter net income of $1.37 billion, or $1.43 per share. That compared with $649 million, or 70 cents per share, in the year-ago quarter. Revenue increased 50.5 percent to $5.81 billion.

THE STRENGTHS: Realized copper prices rose 38 percent and gold prices rose 22 percent. Sales of both metals also were higher.

INDONESIA UPDATE: Freeport-McMoRan expects sales to fall this year at its flagship Grasberg mine in Indonesia, in part because of an eight-day strike in July that temporarily halted operations.