Alcoa earnings: 63 cents per share vs 53 cents expected


Alcoa Corp. on Monday reported first-quarter earnings per share of 63 cents, ex-items, compared to 53 cents per share, which analysts polled by Thomson Reuters had expected.

The company's revenue for the period missed expectations of $2.96 billion, however, registering at $2.66 billion.

Alcoa added that it expects aluminum demand to grow 4.5 percent to 5 percent over last year, although it projects a modest global aluminum surplus of 300,000 metric tons to 700,000 metric tons.

Shares of Alcoa rose more than 2 percent in after-hours trading.

Reuters contributed to this report.