Alcoa More than Doubles Net Income on Higher Prices

Q2 net income was $322 million, up 137% from the second quarter of 2010, when commodities prices were much lower.

Aluminum giant Alcoa reported net income in the second quarter was $322 million, more than double the level from the same period last year.

Boosted by rising prices for its aluminum products, Alcoa's revenue in the second quarter was $6.6 billion, up 27% from the same period a year earlier and up 11% from the first quarter.

Second-quarter net income was $322 million, up 137% from the second quarter of 2010, when commodities prices were much lower.

"Although the economic recovery is uneven, the overall outlook for Alcoa -- and for aluminum -- remains positive," Alcoa CEO Klaus Kleinfeld said.

Copyright Agence France-Presse, 2011

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