Alcoa Corp. Q1 Profit Increases, beats estimates

(RTTNews) - Alcoa Corp. (AA) released a profit for its first quarter that increased from last year and beat the Street estimates.

The company's earnings came in at $469 million, or $2.49 per share. This compares with $175 million, or $0.93 per share, in last year's first quarter.

Excluding items, Alcoa Corp. reported adjusted earnings of $577 million or $3.06 per share for the period.

Analysts on average had expected the company to earn $2.93 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 14.6% to $3.29 billion from $2.87 billion last year.

Alcoa Corp. earnings at a glance (GAAP) :

-Earnings (Q1): $469 Mln. vs. $175 Mln. last year. -EPS (Q1): $2.49 vs. $0.93 last year. -Analyst Estimate: $2.93 -Revenue (Q1): $3.29 Bln vs. $2.87 Bln last year.