PITTSBURGH - Alcoa Inc.'s earnings soared 86 percent as demand from makers of aircraft, trucks and trains outweighed lower metal prices and a seasonal lull, the aluminum maker said Tuesday. But the results fell far short of Wall Street expectations.
The New York-based company reported third-quarter earnings of $537 million, or 61 cents per share, up from $289 million, or 33 cents per share, during the same period a year ago. Revenue jumped 19 percent to $7.63 billion from $6.40 billion.
But sales slipped 2 percent compared with the second quarter, mostly due to weaker metal prices and an expected slump during the quarter, when many European markets are closed and the …
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