Alcoa Misses Earnings, Stock Higher After Hours

Shares of Alcoa AA are higher in after-hours trading despite the company reported quarterly earnings that missed earnings estimates. The company reported earnings of 32 cents per share on $6.6 billion in revenues. Wall Street had been expecting earnings of cents per 34 share on $6.32 billion in revenues. “We turned in another strong quarter, with solid revenue and earnings growth,” said Alcoa Chairman and CEO Klaus Kleinfeld. “Across the Company, our team is delivering outstanding results through our constant focus on execution and by reinventing what customers believe is possible through innovation. “Although the economic recovery is uneven, the overall outlook for Alcoa - and for aluminum - remains positive,” Kleinfeld said. “Demand for aluminum continues to rise and so does growth in our major markets. These factors support our projection that aluminum demand will grow 12 percent this year and will double by 2020." At last check, shares were higher in after-hours, trading at $16.14‎, up 23 cents.