Alcoa reported quarterly earnings that beat analysts' expectations on Tuesday, but revenue narrowly missed estimates.
After the earnings announcement, the company's shares rose more than 2 percent in extended-hours trading. (Click here to get the latest quotes for Alcoa.)
The company posted first-quarter earnings of 9 per share, down from 11 cents a share in the year-earlier period. Revenue decreased to $5.45 billion, from $5.83 billion a year ago.
Analysts had expected Alcoa to report earnings of 5 cents a share on $5.55 billion in revenue, according to a consensus estimate from Thomson Reuters.
Without excluding extraordinary items, the aluminum-maker posted a net loss of $178 million, or 16 cents a share, versus a net income of $149 million, 13 cents, a year ago.
This week marks the beginning of earnings season as companies divulge the results of the first quarter, which are expected to show weather-related impacts for many businesses.
Alcoa CEO Klaus Kleinfeld told CNBC Tuesday he expects that the company's auto sheet segment will be worth more than $1 billion in a few years, citing growing popularity of lighter, all aluminium-made cars.
"We are leading this, we have innovation going in to it… in terms of growth, honestly i'm not concerned at all," Kleinfeld said on CNBC's Closing Bell. "As you see the profitability is coming up and people only pay for what they value."
While Alcoa is no longer part of the Dow Jones industrial average, it is still regarded as a bellwether company, and investors will be watching closely for comments from the company about its recently-ended quarter and demand for aluminum.
The company's share price has gained about 52 percent since leaving the Dow last year.
—By CNBC