The troubled US aircraft manufacturer, Boeing, said on Wednesday that its first quarter annual loss had decreased to -$343 million, or -$0.56 per share, thereby beating Wall Street estimates. Those figures compare with -$414 million, or -$0.69 per share, from last year's first quarter. Excluding items, Boeing reported adjusted earnings of -$388 million or -$1.13 per share for the period. Analysts on average had expected the company to earn -$1.65 per share, according to figures compiled by Thoms
The mining giant said its quarterly production of copper rose to 1.1 billion pounds from 965 million pounds a year earlier, helped by a 49% jump in output from its Indonesia operations. Freeport-McMoRan said it was working with the Indonesian government, which has put a ban on raw material exports, to obtain approvals to continue shipping copper concentrates and anode slimes. In the reported quarter, the company also benefited from strong prices of gold, which it produces as a byproduct from its key Grasberg mine in Indonesia.
(Reuters) -American Express's first-quarter profit vaulted past Wall Street estimates on Friday, driven by an affluent customer base that increased spending as recession fears ebbed. Amid a turbulent landscape in which concerns over the financial well-being of lower-income consumers have troubled several lenders, American Express's clientele has shielded the company from significant impact and left it largely unscathed by the challenges that hurt others in the industry. The New York-based company reported a profit of $3.33 a share for the three months ended March 31, sailing past analysts' average expectation of $2.96 a share, according to LSEG data.