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Goldcorp beats 1Q profit forecasts

VANCOUVER, British Columbia (AP) _ Goldcorp Inc. (GG) on Wednesday reported first-quarter profit of $170 million.

On a per-share basis, the Vancouver, British Columbia-based company said it had net income of 20 cents.

The results exceeded Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 9 cents per share.

The gold mining company posted revenue of $882 million in the period, which did not meet Street forecasts. Three analysts surveyed by Zacks expected $929.9 million.

Goldcorp shares have climbed almost 7 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $14.53, a decline of 17 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 GG at https://www.zacks.com/ap/GG


Keywords: Goldcorp, Earnings Report