Alcoa: Q3 Earnings Snapshot

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PITTSBURGH (AP) _ Alcoa Corp. (AA) on Thursday reported third-quarter net income of $337 million, after reporting a loss in the same period a year earlier.

The Pittsburgh-based company said it had net income of $1.76 per share. Earnings, adjusted for non-recurring costs, were $2.05 per share.

The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.85 per share.

The bauxite, alumina and aluminum products company posted revenue of $3.11 billion in the period, also exceeding Street forecasts. Three analysts surveyed by Zacks expected $2.94 billion.

Alcoa shares have more than doubled since the beginning of the year, while the S&P's 500 index has increased 18%. In the final minutes of trading on Thursday, shares hit $48.60, more than tripling in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AA at https://www.zacks.com/ap/AA