US Markets

Brazil's Vale reports 15% gain in quarterly net income

Credit: REUTERS/ADRIANO MACHADO

Brazilian miner Vale on Thursday reported a 15% quarterly earnings gain as iron ore prices remained above year-ago levels, offsetting the effect of a production decline stemming from a fatal dam burst.

SAO PAULO, Oct 24 (Reuters) - Brazilian miner Vale VALE3.SA on Thursday reported a 15% quarterly earnings gain as iron ore prices remained above year-ago levels, offsetting the effect of a production decline stemming from a fatal dam burst.

Vale's net profit rose to $1.654 billion from $1.408 billion in the year-ago period, missing the $2.72 billion mean of analysts polled by Refinitiv.

(Reporting By Christian Plumb and Roberto Samora Editing by Chris Reese)

((christian.plumb@thomsonreuters.com; (646) 223-5942; Reuters Messaging: christian.plumb.thomsonreuters.com@reuters.net))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Latest Markets Videos

Reuters

Reuters, the news and media division of Thomson Reuters, is the world’s largest international multimedia news provider reaching more than one billion people every day. Reuters provides trusted business, financial, national, and international news to professionals via Thomson Reuters desktops, the world's media organizations, and directly to consumers at Reuters.com and via Reuters TV.

Learn More