UPDATE 1-Alcoa Q3 profit up, but sees slower growth
* Profit and sales slip from Q2Oct 11 (Reuters) - Alcoa Inc , the largest U.S.
aluminum producer, said third-quarter profit jumped from a year
ago, but earnings and revenue slipped from the second quarter
as economic growth slowed from the first half of this year.Net earnings were $172 million, or 15 cents per share,
compared with $61 million, or 6 cents per share, a year
earlier, the Pittsburgh-based company said on Tuesday.Income from continuing operations was also 15 cents per
share, but down from 28 cents per share in the second quarter.Revenue rose 21 percent to $6.4 billion from a year
earlier, but was 3 percent lower than the second quarter of
this year as metals prices slumped sharply.Aluminum prices fell almost 20 percent in the third quarter
on global economic concerns and Alcoa’s share price fell 41
percent during the same period.
