NEW YORK, Oct 30 (Reuters) - Arch Coal Inc said on Friday that third-quarter profit fell sharply as it sold less coal at lower average prices, but the results exceeded Wall Street estimates, and second-quarter performance, and its shares rose.
Net earnings were $25.2 million, or 16 cents per share, compared with year-earlier earnings of $97.8 million, or 68 cents per share, the St. Louis-based company said. Revenue fell to $615 million from $769.5 million.
Analysts were expecting 4 cents per share on revenue of $605.1 million, according to Thomson Reuters I/B/E/S.
Arch said it sold 29.1 million tons in the quarter, down from 34.8 million tons in the same quarter of 2008. The average sales price slipped to $20.05 from $20.38 a year earlier.
Arch shares were up 5 percent at $24.35 in electronic trading before the New York Stock Exchange opened.

(Reporting by Steve James, editing by Gerald E. McCormick) Keywords: ARCHCOAL/ (steve.james@thomsonreuters.com; +1 646-223-6013; Reuters Messaging: steve.james.reuters.com@reuters.net)

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