Compania de Minas Buenaventura SA (BVN: Quote), a Peru-based precious metals producer, Tuesday said its second-quarter profit declined 23 percent hurt mainly by increased operating costs.
The Lima, Peru-based company's attributable second-quarter net income dropped to $152.6 million or $0.60 per share from $197.6 million or $0.78 per share last year.
On average, three analysts polled by Thomson Reuters expected earnings of $0.77 per share for the quarter. Analysts' estimates typically exclude unusual gains and losses.
Buenaventura said its total revenues for the quarter grew 2 percent to $350.5 million from $343.3 million last year. Analysts estimated revenues of $381.32 million for the quarter.
Total operating costs increased to $213.3 million from $162.0 million last year.
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by RTT Staff Writer
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