January 10, 2011 / 9:24 PM / in 7 years

UPDATE 1-Alcoa fourth-quarter profit rises on higher demand

* Operating net 21 cents/share vs Wall St view 19 cents

* Revenue up 4 percent to $5.7 bln

* Shares flat after the close

NEW YORK, Jan 10 (Reuters) - Alcoa Inc (AA.N) reported a jump in fourth-quarter profit on Monday, beating Wall Street estimates as aluminum prices and demand rose after two years in the doldrums.

Net income was $258 million, or 24 cents per share. Income from continuing operations was 21 cents per share.

Revenue rose four percent to $5.7 billion, said the company which is traditionally the first Dow component to report in the quarter.

Analysts on average were expecting earnings of 19 cents per share and revenue of $5.71 billion.

Aluminum prices, which slumped dramatically during the recession, rose 11 percent last year -- 5 percent in the fourth quarter alone -- and are now near a two-year peak of $2,500 per tonne.

Reporting by Steve James; Editing by Bernard Orr

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below