Vale SA (ADR)(NYSE:VALE) reported its second quarter fiscal year 2015 (2QFY15) earnings release today on July 30. According to the earnings release, the company beat both the revenue and earnings per share (EPS) estimates for the quarter.
Vale SA (ADR) (NYSE:VALE), the world's biggest iron ore miner, announced on Monday its decision to slash 25 million metric tons of iron output in July, while maintaining its full-year production target at 340 million tons.
Vale SA (NYSE:VALE) lost money in the first quarter, much as analysts had expected. In large part that was attributable to a moribund commodities market, most notably iron ore, which makes up roughly 60% of the miner's revenue.