PHOENIX (AP) _ Freeport-McMoRan Inc. (FCX) on Thursday reported first-quarter net income of $718 million, after reporting a loss in the same period a year earlier.

The Phoenix-based company said it had profit of 48 cents per share. Earnings, adjusted for non-recurring costs, came to 51 cents per share.

The results met Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was also for earnings of 51 cents per share.

The mining company posted revenue of $4.85 billion in the period, which did not meet Street forecasts. Three analysts surveyed by Zacks expected $4.87 billion.

Freeport-McMoRan shares have increased 38% since the beginning of the year, while the S&P's 500 index has increased 11%.

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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