Newmont Mining Corp. Q3 Income Drops 49%

(RTTNews) - Newmont Mining Corp. (NEM) announced a profit for third quarter that fell compared to the same period last year.

The company said its bottom line dropped to $126 million, or $0.23 per share. This was lower than $249 million, or $0.50 per share, in last year's third quarter.

Analysts had expected the company to earn $0.17 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter rose 16.0% to $2.03 billion. This was up from $1.75 billion last year.

Newmont Mining Corp. earnings at a glance:

-Earnings (Q3): $126 Mln. vs. $249 Mln. last year. -Earnings Decline (Y-o-Y): -49.4% -EPS (Q3): $0.23 vs. $0.50 last year. -EPS Decline (Y-o-Y): -54.0% -Analysts Estimate: $0.17 -Revenue (Q3): $2.03 Bln vs. $1.75 Bln last year. -Revenue Change (Y-o-Y): 16.0%