PHOENIX (AP) _ Freeport-McMoRan Inc. (FCX) on Thursday reported third-quarter net income of $329 million, after reporting a loss in the same period a year earlier.

The Phoenix-based company said it had net income of 22 cents per share. Earnings, adjusted for non-recurring costs, were 29 cents per share.

The results exceeded Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 24 cents per share.

The mining company posted revenue of $3.85 billion in the period, also exceeding Street forecasts. Three analysts surveyed by Zacks expected $3.76 billion.

Freeport-McMoRan shares have increased 35% since the beginning of the year, while the Standard & Poor's 500 index has increased slightly more than 6%.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on FCX at https://www.zacks.com/ap/FCX

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