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Cabot tops Street 2Q forecasts

BOSTON (AP) _ Cabot Corp. (CBT) on Monday reported fiscal second-quarter net income of $74 million.

On a per-share basis, the Boston-based company said it had profit of $1.18. Earnings, adjusted for non-recurring gains, were 87 cents per share.

The results topped Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 85 cents per share.

The chemical company posted revenue of $678 million in the period, which also topped Street forecasts. Three analysts surveyed by Zacks expected $616.8 million.

Cabot shares have risen 19 percent since the beginning of the year. In the final minutes of trading on Monday, shares hit $60.36, an increase of 24 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CBT at https://www.zacks.com/ap/CBT

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Keywords: Cabot, Earnings Report