Investing.com - ArcelorMittal reported on Thursday third quarter earnings that beat analysts' forecasts and revenue that fell short of expectations.
ArcelorMittal announced earnings per share of $3.61 on revenue of $17.56B. Analysts polled by Investing.com anticipated EPS of $3.46 on revenue of $18.78B.
ArcelorMittal shares are up 27% from the beginning of the year and are trading at $27.94 , down-from-52-week-high.They are outperforming the Euro Stoxx 50 which is up 22.48% from the start of the year.
ArcelorMittal shares gained 2.12% in intra-day trade the report.
ArcelorMittal follows other major Basic Materials sector earnings this month
ArcelorMittal's report follows an earnings missed by Akzo Nobel on October 20, who reported EPS of $0.93 on revenue of $2.41B, compared to forecasts EPS of $0.941 on revenue of $2.5B.
IMCD NV had beat expectations on Tuesday with third quarter EPS of $1.11 on revenue of $863.1M, compared to forecast for EPS of $0.97 on revenue of $817M.
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