Updated from 4:19 p.m. ET with updated after hours action
Shares of the New York-based company were losing 1.3% to $8.26, after initially peaking above the flatline.
The company said revenue fell to $5.83 billion, from $6.01 billion a year ago, which missed the $5.88 billion an average of analysts polled by Thomson Reuters were expecting. Alcoa reported earnings rose to 11 cents ex-items, from 10 cents a share the same time last year, which was better than the 8 cents a share analysts were looking for."This was a strong quarter led by record profitability in our downstream business, improved results in our midstream business, and remarkable upstream performance in the face of weak metal prices," Klaus Kleinfeld, CEO of Alcoa, said in a statement. -- Written by Joe Deaux in New York. >Contact by Email. Follow @JoeDeaux
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts