Vale (VALE) reports Q3 net profit of $1.67B, down 66% Y/Y from $4.94B as the global economic...

|About: Vale S.A. (VALE)|By:, SA News Editor

Vale (VALE) reports Q3 net profit of $1.67B, down 66% Y/Y from $4.94B as the global economic slowdown caused iron ore prices to tumble. Operating revenue fell 35% to $10.96B. The profit result was lower than expectations from analysts, who had forecast $1.8B; operating revenues topped estimates of $10.4B.