Alcoa reported on Tuesday that it had profits of 18 cents a share for its second quarter. This beat expectations by 50%. The company also posted revenue of $5.8 billion, which is 2.6% higher than expected. The company earned $138 million during the second quarter compared to a $148 million loss in the same quarter last year, reports USA Today.
“There’s much more growth potential for the primary business than for the global rolled business even though management spends a lot more time talking about the global rolled business,” Andrew Lane, an analyst at Morningstar, told Bloomberg while talking about Alcoa.
AA shares were up 5% as of Wednesday evening.