Alcoa Sales Exceed Estimates at New-Look Company as Prices Jump
- Aluminum prices rose 13% from a year earlier in LME trading
- Report is first chance for investors to parse new Alcoa
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Alcoa Corp., the aluminum producer that split from its jet- and car-parts business last year, reported higher-than-expected sales as the price of the metal rose.
Fourth-quarter revenue climbed 3.5 percent from a year earlier to $2.54 billion, New York-based Alcoa said Tuesday in a statement. That topped the $2.38 billion average estimate of eight analysts tracked by Bloomberg.