Alcoa Earnings: Here’s Why Investors are Bidding Shares Now
Dow component Alcoa, Inc. (NYSE:AA) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 1.65%.
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Alcoa, Inc. Earnings Cheat Sheet
Results: Net income increased to $242 million (21 cents per diluted share) in the quarter versus a net loss of $191 million in the year-earlier quarter.
Revenue: Decreased 1.49% to $5.9 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Alcoa, Inc. reported adjusted net income of 21 cents per share. By that measure, the company beat the mean analyst estimate of $0.06. It beat the average revenue estimate of $5.6 billion.
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According to Alcoa’s earnings press release, “the midstream and downstream businesses continued to turn in record performance, hitting new profitability highs.”
Turn the corner to see some more hot-off-the-press earnings insights our of Alcoa today…