Alcoa: Q2 Earnings Snapshot

PITTSBURGH (AP) _ Alcoa Corp. (AA) on Wednesday reported second-quarter earnings of $549 million.

The Pittsburgh-based company said it had profit of $2.95 per share. Earnings, adjusted for non-recurring gains, were $2.67 per share.

The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $2.60 per share.

The bauxite, alumina and aluminum products company posted revenue of $3.64 billion in the period, also exceeding Street forecasts. Three analysts surveyed by Zacks expected $3.49 billion.

Alcoa shares have declined 24% since the beginning of the year, while the S&P’s 500 index has fallen 17%. In the final minutes of trading on Wednesday, shares hit $45.06, an increase of 29% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AA at https://www.zacks.com/ap/AA