NEW YORK (TheStreet) -- ArcelorMittal (MT) - Get Report stock is up 2.71% to $9.11 in pre-market trading on Friday morning after the company reported better than expected earnings, but lower revenue for the 2015 second quarter.
The company posted earnings of 10 cents per share on revenue of $16.89 billion for the quarter ended June 30.
Analysts had estimated a loss of 11 cents per share on revenue of $17.39 billion.
Last year, ArcelorMittal reported earnings of 3 cents per share on revenue of $20.70 billion for the second quarter.
Steel shipments totaled 22.2 million tons in the second quarter of this year, a 3.4% year-over-year increase.
Iron ore production, however, fell to 16.4 million tons, compared to 16.6 million tons in the same period last year.
Additionally, the Luxembourg-based company kept its fiscal 2015 guidance intact even though demand is expected to fall, particularly in emerging markets.
Separately, TheStreet Ratings team rates ARCELORMITTAL SA as a Hold with a ratings score of C-. TheStreet Ratings Team has this to say about their recommendation:
"We rate ARCELORMITTAL SA (MT) a HOLD. The primary factors that have impacted our rating are mixed some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. Among the primary strengths of the company is its respectable return on equity which we feel is likely to continue. At the same time, however, we also find weaknesses including unimpressive growth in net income, poor profit margins and weak operating cash flow."
You can view the full analysis from the report here: MT Ratings Report