Alcoa's second-quarter profit slips
Tue Jul 8, 2008 4:35pm EDT
NEW YORK, July 8 (Reuters) - Aluminum producer Alcoa Inc (AA.N: Quote, Profile, Research, Stock Buzz) on Tuesday posted a drop in second-quarter profit as surging costs more than offset the jump in prices for the metal.
However, the results came in ahead of Wall Street expectations, lifting shares in after-hours trade.
Net earnings were $546 million, or 66 cents per share, compared with $715 million, or 81 cents per share, in the same quarter last year, the company said. (Reporting by Matt Daily; Editing by Gary Hill)