Alcoa swings to a profit amid rising demand for aluminum
DENVER — Alcoa Inc. reported a secondquarter profit after selling more aluminum in the commercial vehicles, packaging and construction markets.
The Pittsburgh manufacturing giant reported net income of $136 million, or 13 cents share, for the quarter that ended June 30. That compares with a loss of $454 million, or 47 cents a share, a year earlier.
Revenue rose to $5.19 billion from $4.24 billion.
Alcoa is one of the first companies to report quarterly earnings. Its performance can provide some insight into developing economic trends because of its varied customer base.