Alcoa: Q1 Earnings Snapshot
PITTSBURGH (AP) _ Alcoa Corp. (AA) on Thursday reported first-quarter earnings of $175 million.
On a per-share basis, the Pittsburgh-based company said it had profit of 93 cents. Earnings, adjusted for non-recurring gains, were 79 cents per share.
The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 48 cents per share.
The bauxite, alumina and aluminum products company posted revenue of $2.87 billion in the period.
Alcoa shares have risen 42% since the beginning of the year, while the S&P’s 500 index has increased 11%. In the final minutes of trading on Thursday, shares hit $32.84, more than quadrupling in the last 12 months.