PHOENIX (AP) _ Freeport-McMoRan Inc. (FCX) on Wednesday reported fourth-quarter net income of $1.11 billion.

On a per-share basis, the Phoenix-based company said it had profit of 74 cents. Earnings, adjusted for non-recurring costs, came to 96 cents per share.

The results fell short of Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 97 cents per share.

The mining company posted revenue of $6.16 billion in the period.

For the year, the company reported profit of $4.31 billion, or $2.90 per share. Revenue was reported as $22.85 billion.

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