Alcoa swings 2Q profit of $138M, revenue flat
NEW YORK – Alcoa Inc. (AA) on Tuesday reported a second-quarter profit of $138 million, reversing a year-ago loss, and the results beat analysts’ expectations. The company reported strong results in its engineered-products business while looking to cut costs in its aluminum-smelting segment.
Alcoa said net income was 12 cents per share. In the year-ago quarter it lost $119 million, or 11 cents per share.