Vale Has Record Breaking 3Q10 Revenue

Vale (NYSE: VALE) is having a strong year with record breaking revenue in 3Q10 according to an article published by Barron's.

Vale's revenue was $14.5B in 3Q10 which is a quarterly record. This is a 110% increase from the year-earlier period. Rising iron-ore prices and strong demand from China are reasons attributed to this record-breaking growth.

Barron's also reports, "Earnings rose 260%, to $6 billion, or $1.13 a share, putting the Rio de Janeiro-based company on track to earn $3.05 per ADR for the full year. Wall Street expects Vale, the world's leading producer of iron ore, to net $4.21 a share in 2011."

Analysts are expecting Vale to "generate $24.6 billion this year in earnings before interest, taxes, depreciation and amortization, rising to $33.8 billion in 2011 and $35.4 billion in 2012."

VALE is trading at $32.68