Eldorado Gold's 3Q Jumps Nearly 50%

The third-quarter profit of Eldorado Gold Corp., which operates in Turkey, China and Brazil, jumped nearly 50 percent on higher prices and record high quarterly production.

Net income increased $102.5 million, or 19 cents per share, from $69.6 million, or 13 cents per share, in the comparable 2010 quarter, the Canada-based company said Thursday.

Revenue rose 60 percent $326.09 million from $190.31 million in the year-earlier three-month period.

Gold production climbed to 179,195 ounces from 151,297 ounces in the third quarter of 2010.

Eldorado's average realized price increased from $1,231 per troy ounce to $1,700.

The company's 2011 gold production operating guidance was lowered to 650,000 ounces at an average cash cost of $400 per ounce from 700,000 ounces to 725,000 ounces at an average cash operating cost of $390 to $410 per ounce.

Shares three cents to $19.57 in morning trading.