The miner reported $31.03 billion in revenue for the first half, missing expectations by $260 million despite a 15.5% year-over-year increase.
Rio Tinto posted first-half non-GAAP earnings per share of $4.21, with revenue reaching $31.03 billion, $260 million below analyst estimates. The company highlighted a 15.5% year-over-year revenue increase, driven by higher commodity prices and operational performance.
Underlying EBITDA surged 28% to $14.8 billion, while free cash flow jumped 75% to $3.8 billion. The results reflect improved market conditions but fell short of revenue projections, signaling potential challenges in meeting full-year targets.
Shares showed muted reaction in early trading as investors weighed the earnings beat against the revenue miss.