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Rio Tinto H1 Net Profit Down 22%

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Rio Tinto PLC (NYSE: RIO) reported a 22% drop in its first-half earnings.

Rio Tinto's net profit dropped to US$5.89 billion, versus US$7.59 billion, in the year-ago period. Its revenue fell to US$25.34 billion from US$29.06 billion.

Rio Tinto also announced its plans to pay an interim dividend of 72.5 cents per share.

Its underlying earnings declined 34% to US$5.15 billion from US$7.78 billion, beating analysts' estimates of US$4.94 billion.

Rio Tinto's shares closed at $48.81 yesterday.

Posted-In: profitEarnings News

 

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