(MENAFN) Aluminum and metal producer Alcoa reported a jump in fourth-quarter earnings behind higher commodity prices as it forecast solid growth in some industrial segments, AFP reported.
Earnings for the fourth quarter came in at USD159 million, compared with a loss of USD2.34 billion a year ago. The results in the year-ago period were marred by a USD1.7 billion write-down tied to smelting acquisitions.
Quarterly revenues were USD6.38 billion, up from USD5.59 billion. The results were boosted by quarterly aluminum prices that averaged USD2,578 per metric ton, up nearly 20 percent from a year ago.
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