Eldorado Gold (TSX: T.ELD, Stock Forum) Friday reported a second-quarter profit that fell 38% to $46.6 million, or seven cents a share, compared with $74.9 million, or 14 cents a share, during the same period last year. Revenue slipped 3% to $244.2 million.
Analysts, on average, had expected profit of seven cents a share, according to Thomson Reuters I/B/E/S.
Gold production for the quarter was 140,694 ounces at an average cash operating cost of $480 per ounce, compared with 162,429 ounces at $397 per ounce a year ago.
The Canadian gold miner revised its 2012 production outlook down to 660,000 ounces from 730,000 to 775,000 ounces due to delays at its Efemcukuru project in Turkey and at Eastern Dragon in China.