Barrick Gold Corporation (ABX) swung to a net profit for the quarter ended Mar. 31, 2017. The company has made a net profit of $679 million, or $ 0.58 a share in the quarter, against a net loss of $83 million, or $0.07 a share in the last year period. Revenue during the quarter grew 3.26 percent to $1,993 million from $1,930 million in the previous year period. Gross margin for the quarter expanded 127 basis points over the previous year period to 32.66 percent. Total expenses were 18.41 percent of quarterly revenues, down from 74.97 percent for the same period last year. This has led to an improvement of 5656 basis points in operating margin to 81.59 percent.
Operating cash flow improves
Barrick Gold Corporation has generated cash of $495 million from operating activities during the quarter, up 9.76 percent or $44 million, when compared with the last year period.
The company has spent $331 million cash to meet investing activities during the quarter as against cash inflow of $341 million in the last year period. It has incurred capital expenditure of $327 million on net basis during the quarter, up 22.93 percent or $61 million from year ago period.
The company has spent $278 million cash to carry out financing activities during the quarter as against cash outgo of $927 million in the last year period.
Cash and cash equivalents stood at $2,277 million as on Mar. 31, 2017, down 1.98 percent or $46 million from $2,323 million on Mar. 31, 2016.
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