Alcoa rallies after posting higher Q3 profit, seeing strong aluminum fundamentals

What happened: Alcoa (AA) shares rose 5.8% on Friday after the company reported Q3 adjusted earnings that beat analyst expectations, helped by higher aluminum production and prices. Key numbers: Q3 GAAP earnings more than doubled to $483M, or $1.81/share, from $232M, or $0.88/share a year earlier. Revenues rose 24% Y/Y to $3.7B. Why it matters: The earnings beat and the company's view of strong aluminum fundamentals drove the share move higher.

Alcoa (AA) shares rose 5.8% on Friday after the company reported Q3 adjusted earnings that beat analyst expectations, helped by higher aluminum production and prices.

The earnings beat and the company's view of strong aluminum fundamentals drove the share move higher.