Investing.com - ArcelorMittal reported on Thursday second quarter earnings that beat analysts' forecasts and revenue that topped expectations.
ArcelorMittal announced earnings per share of $4.19 on revenue of $21.88B. Analysts polled by Investing.com anticipated EPS of $3.82 on revenue of $21.07B.
ArcelorMittal shares are down 16% from the beginning of the year and are trading at $23.63 , down-from-52-week-high.They are under-performing the CAC 40 which is down 12.57% from the start of the year.
ArcelorMittal shares gained 4.12% in intra-day trade following the report.
ArcelorMittal follows other major Materials sector earnings this month
ArcelorMittal's report follows an earnings missed by Akzo Nobel on Monday, July 18, 2022, who reported EPS of $0.84 on revenue of $2.85B, compared to forecasts EPS of $1.02 on revenue of $2.83B.
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