PITTSBURGH (AP) _ United States Steel Corp. (X) on Thursday reported second-quarter net income of $1.01 billion, after reporting a loss in the same period a year earlier.
The Pittsburgh-based company said it had net income of $3.53 per share. Earnings, adjusted for non-recurring gains, were $3.37 per share.
The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $3.16 per share.
The steel maker posted revenue of $5.03 billion in the period, also exceeding Street forecasts. Three analysts surveyed by Zacks expected $4.7 billion.
U.S. Steel shares have increased 52% since the beginning of the year, while the S&P's 500 index has risen 18%. In the final minutes of trading on Thursday, shares hit $25.47, more than tripling in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on X at https://www.zacks.com/ap/X
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