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PITTSBURGH (AP) — PITTSBURGH (AP) — Alcoa Corp. (AA) on Wednesday reported a loss of $168 million in its third quarter.
The Pittsburgh-based company said it had a loss of 94 cents per share. Losses, adjusted for non-recurring gains, came to $1.14 per share.
The results did not meet Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of $1.13 per share.
The bauxite, alumina and aluminum products company posted revenue of $2.6 billion in the period, surpassing Street forecasts. Three analysts surveyed by Zacks expected $2.59 billion.
Alcoa shares have dropped 42% since the beginning of the year, while the S&P's 500 index has increased 12%. In the final minutes of trading on Wednesday, shares hit $26.53, a fall of 33% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AA at https://www.zacks.com/ap/AA