Goldcorp profit up on strong precious metal sales

Thu Oct 25, 2012 8:18am EDT

Oct 25 (Reuters) - Goldcorp Inc reported on Thursday a 48 percent increase in third-quarter profit, as the company sold more gold and silver.

Canada's second-largest gold miner's net earnings were $498 million, or 61 cents a share. That compared with $336 million, or 42 cents a share, in the year-earlier period.

Excluding one-time items, profits fell 2 percent to 54 cents a share. Analysts on average had expected earnings of 46 cents a share, according to Thomson Reuters I/B/E/S.

Revenue rose 18 percent to a record $1.5 billion as the miner sold 617,800 ounces of gold and 9.1 million ounces of silver.