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Cleveland-Cliffs: 1Q Earnings Snapshot

CLEVELAND (AP) _ Cleveland-Cliffs Inc. (CLF) on Thursday reported a loss of $22.1 million in its first quarter.

The Cleveland-based company said it had a loss of 8 cents per share.

The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for a loss of 14 cents per share.

The mining company posted revenue of $157 million in the period, which also beat Street forecasts. Four analysts surveyed by Zacks expected $116.6 million.

Cleveland-Cliffs shares have risen 24 percent since the beginning of the year. The stock has increased 31 percent 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 CLF at https://www.zacks.com/ap/CLF