Alcoa Inc. Beats Views; Swings To Q4 Net

Alcoa Inc.

rose modestly in the extended session after the company swung to a net profit that beat expectations. The New York-based aluminum company changed hands recently at $16.32, up $0.15 cents. Alcoa forecast that 2015 global aluminum demand will increase 7 percent in 2015, or the same rate as in 2014. The company swung to fourth-quarter net income of $159 million, or $0.11 cents a share, from a year-earlier loss of $2.3 billion, or $2.19 a share. Adjusted earnings for the recent period equaled $0.33 cents a share, versus $0.04 cents a share last year. Revenue grew 14 percent to $6.4 billion, from $5.6 billion a year earlier. Wall Street expected fourth-quarter adjusted earnings of $0.25 cents a share, on revenue of $6 billion.