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Alcoa Inc. stock price
Alcoa Inc. latest news:
BRIEF-Alcoa Corp reports Q3 earnings per share $0.60
Alcoa Corp(AA). * Alcoa Corp(AA) reports third quarter 2017 results. * Q3 adjusted earnings per share $0.72 excluding items. * Q3 earnings per share $0.60. * Q3 revenue $3.0 billion versus I/B/E/S view $2.96 billion.
Alcoa misses on earnings but beats on revenue
Alcoa Corp. profit came in lighter than expected for the aluminum company's third quarter on Wednesday, but revenue was a slight beat. Alcoa reported net income of $113 million, or 60 cents a share, on sales of $3 billion; after adjustments for "special items," the company claimed earnings of 72 cents a share. Analysts on average expected adjusted earnings of 74 cents a share on sales of $2.93 billion, according to FactSet. In the year-ago quarter, Alcoa posted adjusted earnings of 96 cents a share on revenue of $5.2 billion, before a corporate split separated the Alcoa raw-aluminum business from other, faster-growing endeavors. Alcoa also said it increased its forecast for adjusted ebitda for the full year, to $2.4 billion. Shares bounced between slight gains and losses after the announcement, after closing at $47.75.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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