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The Denver-based gold producer reported its first-quarter net income more than quintupled as it lowered production costs while gold prices jumped.
For the quarter that ended March 31, Newmont reported net income of $370 million, or 81 cents per share.
In the first quarter of 2007, Newmont reported net income of $68 million, or 15 cents per share. Revenue totaled $1.94 billion, compared with $1.22 billion in the year-ago quarter.
The results beat estimates from analysts surveyed by Thom son Financial who, on average, forecast income of 54 cents per share on revenue of $1.66 billion.
