PITTSBURGH (AP) — PITTSBURGH (AP) — Alcoa Corp. (AA) on Wednesday reported a loss of $252 million in its first quarter.
On a per-share basis, the Pittsburgh-based company said it had a loss of $1.41. Losses, adjusted for one-time gains and costs, were 81 cents per share.
The results missed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 62 cents per share.
The bauxite, alumina and aluminum products company posted revenue of $2.6 billion in the period, which beat Street forecasts. Three analysts surveyed by Zacks expected $2.52 billion.
Alcoa shares have risen slightly more than 4% since the beginning of the year, while the S&P’s 500 index has increased slightly more than 5%. In the final minutes of trading on Wednesday, shares hit $35.47, a drop of 13% 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
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