RTRS: UPDATE 1-Freeport profit surges on copper, gold prices
NEW YORK, July 21 (Reuters) - Freeport-McMoRan Copper & Gold Inc's (FCX.N) second-quarter profit soared on higher metal prices.
Net earnings were $1.4 billion, or $1.43 per share, compared with $649 million, or 70 cents per share, in the same quarter of 2010. Revenue rose to $5.81 billion from $3.86 billion, the Phoenix, Arizona-based company said on Thursday.
The copper price rose about 45 percent since June 30, 2010, to around $4.27 per pound at the end of this year's second quarter. Gold rose 20 percent over the previous year's quarter and ended the second quarter at $1,499 per ounce. It has since risen to record highs over $1,600. (Reporting by Steve James, editing by Gerald E. McCormick)
