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Monday, April 8, 2013

Alcoa Earnings ( $AA ) Beats forcast and future earnings ??

Aluminum maker Alcoa reported an increase in quarterly profit on Monday as performance in its alumina and primary metals segments improved despite a tough market. Aluminum maker Alcoa (AA) reported an increase in quarterly profit on Monday as performance in its alumina and primary metals segments improved despite a tough marketRevenue, however, fell short. After the earnings announcement, the company's shares slipped in extended-hours Net income rose to $149 million, or 13 cents a share, in the first quarter from $94 million, or 9 cents, a year earlier. Excluding items, earnings rose to 11 cents a share from 10 cents a share. Revenue dropped 3 percent to $5.83 billion from $6.01 billion a year ago. Analysts had expected aluminum producer to report earnings excluding items of 8 cents a share on $5.88 billion in revenue, according to a consensus estimate from Thomson Reuters. Alcoa said it expects 7 percent aluminum-demand growth for 2013.Analysts had expected aluminum producer to report earnings excluding items of 8 cents a share on $5.88 billion in revenue, according to a consensus estimate from Thomson Reuters. Alcoa said it expects 7 percent aluminum-demand growth for 2013. Alcoa unofficially kicks off this quarter's earnings season, which is expected to be fairly weak. Analysts expect earnings to rise by just 1.6 percent, down from 6.2 percent last quarter and lower than a 4.3 percent forecast in January, according to Thomson Reuters. The quarter also has seen an unusually high number of negative warnings, with 107 negative revisions for companies in the S&P 500. Compared to positive revisions, it is the worst pace in 12 years
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