TORONTO — Barrick Gold Corp. reported a first-quarter profit of US$111 million, down from a profit of $158 million in the same quarter last year.
The gold miner, which keeps its books in U.S. dollars, says the profit amounted to six cents per share for the quarter, down from 14 cents per share a year earlier.
Revenue totalled $2.09 billion, up from $1.79 billion in the same quarter last year.
On an adjusted basis, Barrick says it earned 11 cents per share in the first quarter of this year, down from an adjusted profit of 15 cents per share a year ago.
Analysts on average had expected a profit of nine cents per share, according to Thomson Reuters Eikon.
Barrick completed a merger with Randgold Resources Ltd. at the start of the year.
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The Canadian Press