Alcoa Shares Rise As Second-quarter Sales Top Expectations

By Claudia AssisMarketWatch Pulse

Alcoa Inc. on Wednesday said it earned $140 million, or 10 cents a share, in the second quarter, compared with $138 million, or 12 cents a share, a year ago. Adjusted for one-time items, the aluminum producer earned 19 cents a share, up 16% year-over-year. Sales hit $5.9 billion, from $5.84 billion a year ago. Analysts polled by Factset had expected Alcoa to report adjusted earnings of 23 cents a share on sales of $5.8 billion. The company kept its forecast of aluminum demand growth of 6.5% this year. Shares rose 1% in after-hours trading after ending the regular session down 5.1%.

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