Alcoa Beats Estimates In First Major 2Q Earnings Report

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on July 09 2012 5:11 PM

Alcoa Inc. (NYSE: AA), the largest U.S. aluminum manufacturer, reported better-than-expected second quarter earnings Monday as auto and aerospace orders rose in the the second quarter's first major earnings report.

New York-based Alcoa lost $2 million, down from a profit of $322 million last year. Excluding one-time charges, the company had a profit of six cents per share, beating a Bloomberg forecast of five cents. Sales decreased to $5.96 billion from $6.59 billion in the prior year, but beat a Bloomberg forecast of $5.81 billion

Shares of Alcoa rose one cent to $8.77 in after market's close after gaining three cents during market hours.

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