Alcoa stock is witnessing selling pressure in today’s early trading session as Alcoa Corp (NYSE:AA), the aluminum and bauxite producing giant, missed analyst estimates for its first-quarter earnings.
Revenue Falls Over 23%The company recorded a fall in revenue of a staggering 23.3% during the latest quarter as prices of alumina and aluminum both showed weakness. Alcoa stock posted revenue of $2.3 billion for the first quarter, compared to $3 billion of revenue in the same quarter of the last year. Analysts were projecting the company to report $2.72 billion in revenue.
However, the ...
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