US Steel (X) Stock Soars on Earnings Beat

X stock is up close to 20% Wednesday afternoon


US Steel (X) stock is soaring following the company’s surprising profit in its quarterly earnings report.

USSteelLogo US Steel (X) Stock Soars on Earnings BeatThe steel producer posted an unexpected second-quarter earnings of 17 cents a share excluding one-time items. The Pittsburgh-based company’s stock jumped the most since the financial crisis.

US Steel’s net loss was reduced to $18 million — or 12 cents a share — for the quarter. 14 analysts estimated an average loss of 31 cents per share, according to Bloomberg.

The company’s sales amounted to $4.4 billion, surpassing the $4.2 billion average estimate.

X stock is up about 19.9% Wednesday afternoon.

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