The parent of Australia’s Alcoa (ASX:AAI), Alcoa Incorporated (NYSE:AA), has again more than doubled its quarterly profit, but missed expectations for an even greater rise.
Over the third quarter Alcoa’s income from continuing operations came in at $172 million, up 182 per cent from the year before but almost half the amount achieved the quarter before.
Alcoa’s revenue came in at $6.4 billion, 21 per cent higher than the year before but 3 per cent down from the quarter before.
The US based company says most of its markets continued to grow despite aluminium prices falling in the third quarter.
Alcoa has affirmed its forecast that aluminium demand will rise by 12 per cent this year and double by 2020.
