Newmont Beats Expectations with 15% Revenue Growth Despite Lower Gold Prices

Newmont Corporation reported its Q2 earnings yesterday, exceeding market expectations despite lower gold prices. The company's revenue rose 15% year-over-year to $6.12 billion. This growth came despite a decline in average gold prices compared to the previous quarter.

Adjusted earnings for Q2 reached $2.2 billion, or $2.06 per share. This is an increase from last year's Q2 adjusted earnings of $2.06 billion, or $1.85 per share. Newmont's results were a surprise to many analysts, as gold prices had fallen.

As a result, Newmont's stock price rose 1.3% in pre-market trading yesterday.