Glencore Posts Drop In H1 Earnings

Glencore International PLC

reported a drop in its first-half earnings. Glencore's revenue for the period fell 17% y/y to $108.96 billion. Its earnings before interest, taxes and exceptional items fell 24% to $2.51 billion, beating analysts' estimates of $2.40 billion. Glencore's net income attributable to equity shareholders declined 8% to $2.28 billion. Glencore also declared an interim dividend of $0.054 per share. Glencore's shares gained 0.64% to close at $11.05 yesterday.