Alcoa posts loss, but tops forecasts on per share basis - 13 WTHR Indianapolis

Alcoa posts loss, but tops forecasts on per share basis

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It's the first major corporate earnings report of the season, so Alcoa's results are always looked at closely for an indication how things will go in the coming weeks.

The aluminum manufacturing giant reported losing $2 million in the second-quarter as revenue dropped due to weaker prices and pockets of declining demand in the slowing global economy. Excluding one-time items, Alcoa earned 6 cents per share, topping forecasts by a penny.

The aluminum industry has faced challenges as some European countries slide into recession and growth slows in the U.S. and China.

Alcoa's performance reflects broader economic trends because aluminum is used in a wide range of products from automobiles to beverage cans. Alcoa shares were little changed in after-hours trading after rising slightly during the regular session.

(Copyright 2012 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.)

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