Meeting expectations, the parent of Australia’s Alcoa (ASX:AAI), Alcoa Incorporated (NYSE:AA), has unveiled a profit that more than doubled in the second quarter.
The US based company says net income came in at $US322 million, jumping from $US136 million the year before.
Revenue also rose to $US6.6 billion, up 27 per cent from a year earlier.
Alcoa has described the quarter as a strong one, with solid revenue and earnings growth.
While the company believes economic recovery is uneven, it maintains a positive outlook for aluminium.
Alcoa is forecasting that aluminium demand will rise by 12 per cent this year and double by 2020.
In the first half of its 2011 financial year, Alcoa recorded a net profit of $385.7 million.
