By Adriano Marchese


Barrick Gold Corp. reported a rise in profit in its second quarter, despite a slight decline in revenue.

The Canadian mining major said net income rose to $488 million, or 27 cents a share, up from $411 million, or 23 cents a share, the same period a year earlier.

Adjusted earnings were 24 cents a share. According to FactSet, analysts were expecting 22 cents a share.

Revenue fell slightly to $2.86 billion from $2.89 billion.

Gold production edged higher to 1.043 million ounces from 1.041 million ounces a year ago, in line with analyst forecasts, while all-in sustaining costs rose to C$1,212 per ounce from C$1,087.

Copper production rose to 120 million pounds from 96 million.

The company said it remains on track to meet its annual gold and copper targets for the year.


Write to Adriano Marchese at adriano.marchese@wsj.com


(END) Dow Jones Newswires

08-08-22 0638ET