Alcoa Inc reported a jump in fourth-quarter profit on Monday, beating Wall Street estimates as aluminum prices and demand rose after two years in the doldrums.
Net income was $258 million, or 24 cents per share. Income from continuing operations was 21 cents per share.
Revenue rose four percent to $5.7 billion, said the company which is traditionally the first Dow component to report in the quarter.
Analysts on average were expecting earnings of 19 cents per share and revenue of $5.71 billion.
Aluminum prices, which slumped dramatically during the recession, rose 11 percent last year -- 5 percent in the fourth quarter alone -- and are now near a two-year peak of $2,500 per tonne.
(Reporting by Steve James; Editing by Bernard Orr)