Another wave of red across Freeport's quarterly results

摘要

Heavily weighted in the copper and energy business, mining giant Freeport-McMoRan (NYSE: FCX) is enduring the worst of the commodity rout, with big losses announced in its third-quarter fiscal results. Revenue for the company plummeted 25% to US$3.7 billion from the previous comparable quarter, with a net loss of US$3.8 billion, or US$3.58 per share - mostly from the US$3.7-billion reduction in the carrying value of its oil and gas assets.