Alcoa posts surprising third quarter profit

Filed under: Major movement, Earnings reports, Forecasts, Good news, Competitive strategy, Employees, Market matters, Money and Finance Today, Alcoa Inc (AA), DJIA, Recession

Alcoa (NYSE: AA) surprised the market this afternoon by posting its first quarterly profit of the year.

The company credited recent cost cutting measures as the main reason for its profit of $77 million during the quarter (75.8% lower than the same period last year), or 4 cents per share excluding certain items. This was a nice surprise to Wall Street, which had expected to see the company show a loss for the quarter of 9 cents per share.

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Alcoa posts surprising third quarter profit originally appeared on BloggingStocks on Wed, 07 Oct 2009 18:30:00 EST. Please see our terms for use of feeds.

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