Alcoa Corp. Q2 Profit Increases, beats estimates

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

The company's earnings came in at $549 million, or $2.95 per share. This compares with $309 million, or $1.63 per share, in last year's second quarter.

Excluding items, Alcoa Corp. reported adjusted earnings of $496 million or $2.67 per share for the period.

Analysts on average had expected the company to earn $2.31 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 28.6% to $3.64 billion from $2.83 billion last year.

Alcoa Corp. earnings at a glance (GAAP) :

-Earnings (Q2): $549 Mln. vs. $309 Mln. last year. -EPS (Q2): $2.95 vs. $1.63 last year. -Analyst Estimate: $2.31 -Revenue (Q2): $3.64 Bln vs. $2.83 Bln last year.