Teck Resources reports Q1 profit down, but still beats expectations

Teck Resources reports Q1 profit down, but still beats expectations
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VANCOUVER — Teck Resources Ltd. topped expectations in its first-quarter even as its profit fell compared with a year ago due to lower commodity prices and higher operating costs.

The miner says it earned a profit attributable to shareholders of $630 million or $1.10 per diluted share for the quarter ended March 31.

That compared with a profit of $759 million or $1.30 per diluted share a year ago.

Revenue in the quarter totalled nearly $3.11 billion, up from $3.09 billion.

On an adjusted basis, Teck says it earned $568 million or 99 cents per diluted share, down from an adjusted profit of $753 million or $1.29 per diluted share in the same quarter last year.

Analysts on average had expected a profit of 95 cents per share, according to Thomson Reuters Eikon.

Companies in this story: (TSX:TECK.B)

The Canadian Press

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