Posted by Market Wrap Daily | Posted in: Earnings, Recent, Stock News
Alcoa (NYSE: AA) revenue beats Wall Street expectations
Alcoa (NYSE: AA) shares traded slightly higher in after-hours trading on Monday after the largest U.S. aluminum producer reported a quarterly loss that met Wall Street’s expectations and revenue that was above analysts’ forecast.
AA reported a fourth-quarter loss excluding items of 3 cents per share, down from 21 cents a share in the year-earlier period.
Revenue was $5.99 billion, an increase from $5.65 billion a year ago.
Revenue rose 6 percent even as the price of aluminum fell 6 percent in the fourth quarter and 18 percent in the year.
Analysts had expected the company to report a loss of 3 cents per share on revenue of $5.70 billion, according to a consensus estimate from Thomson Reuters.
Tags: aluminum