Alcoa Rallies After Strong Earnings

alcoa aluminum obama american flag

REUTERS/Kevin Lamarque

Aluminum giant Alcoa reported earnings per share of $0.18 on revenue of $5.84 billion.

Analysts were expecting earnings per share of $0.12 on revenue of $5.66 billion.

Following the results, shares of Alcoa were up better than 2.5% in after hours trade.

The company also reaffirmed its 2014 outlook for global aluminum demand growth of 7%.

Alcoa also increased its 2014 estimate for the North America commercial transportation market to a range of 10% to 14%, from a previous range of 5% to 9% in the first quarter. The higher estimate is based in part on rising truck orders and backlogs.

Alcoa said all of its business segments were profitable during the quarter.

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