US Steel 3Q profit doubles despite revenue drop

U.S Steel's third-quarter net income doubled as a tax benefit helped balance pressure from price increases and a challenging global economy.

The Pittsburgh manufacturer said Tuesday that it earned $44 million, or 28 cents per share, in the quarter that ended Sept. 30. That compares with $22 million, or 15 cents per share, a year ago.

Revenue fell more than 8 percent to $4.65 billion.

U.S. Steel Corp. makes steel for a number of end uses from cars to building construction. Steel manufacturers have coped with anemic demand for much of the year because key customers such as the construction industry have cut purchases.

All trading in company shares has been suspended on the New York Stock Exchange because of Hurricane Sandy.

© Copyright 2012 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Anda sedang membaca artikel tentang

US Steel 3Q profit doubles despite revenue drop

Dengan url

http://terdiamtersipu.blogspot.com/2012/10/us-steel-3q-profit-doubles-despite.html

Anda boleh menyebar luaskannya atau mengcopy paste-nya

US Steel 3Q profit doubles despite revenue drop

namun jangan lupa untuk meletakkan link

US Steel 3Q profit doubles despite revenue drop

sebagai sumbernya