The company announced a net income of $77 million, way above what many analysts had predicted.
The result was also far better than the $454 million loss it made in the previous quarter, but was still below the $268 million it made in the third quarter of 2008.
Alcoa said it had benefited from an increase in aluminium prices and cost savings.
The price of aluminium has risen 16 percent to $1,890 per tonne in the last three months.
"The financial and operational measures we took in the first half of the year are having a strong positive impact on our cash position and profitability," said Klaus Kleinfeld, Alcoa President and Chief Executive Officer. "Despite unfavorable currency and energy headwinds, our performance this quarter indicates that Alcoa is weathering the economic storm and is in excellent shape to benefit when the market recovers."
In the past year the company has been forced to cut jobs, sell parts of the business and reduce production after a fall in orders.
Highlights:
The result was also far better than the $454 million loss it made in the previous quarter, but was still below the $268 million it made in the third quarter of 2008.
Alcoa said it had benefited from an increase in aluminium prices and cost savings.
The price of aluminium has risen 16 percent to $1,890 per tonne in the last three months.
"The financial and operational measures we took in the first half of the year are having a strong positive impact on our cash position and profitability," said Klaus Kleinfeld, Alcoa President and Chief Executive Officer. "Despite unfavorable currency and energy headwinds, our performance this quarter indicates that Alcoa is weathering the economic storm and is in excellent shape to benefit when the market recovers."
In the past year the company has been forced to cut jobs, sell parts of the business and reduce production after a fall in orders.
Highlights:
