Stock Track | Cemex Soars 5.19% Pre-market on Strong Q2 Earnings Beat

Stock Track07-23 19:18

Cemex SAB de CV (CX) shares surged 5.19% in pre-market trading on Thursday following the release of the company's second-quarter financial results.

The Mexican cement maker reported earnings and sales that significantly exceeded analyst expectations, driving investor optimism and the stock's upward movement. The company posted quarterly earnings of $0.24 per share, beating the consensus estimate of $0.20 by 20%.

Revenue also came in strong at approximately $4.59 billion, surpassing analyst forecasts and showing a double-digit percentage increase compared to the same period last year. The company's controlling interest net income rose to $347 million, higher than both the year-ago figure and market expectations.

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