Alcoa profits plunge on lower prices of aluminium
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New York
ALCOA reported lower third-quarter earnings on Thursday due to falling aluminum prices as it trimmed its outlook for key Chinese businesses.
Earnings for the quarter ending Sept 30 were US$44 million, down 70.4 per cent from the year-ago period. Revenues fell 10.7 per cent to US$5.57 billion. The results translated into seven cents per share, compared with the analyst projection of 14 cents per share.
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