Alcoa swings to loss as aluminum prices plunge

Alcoa swings to loss as aluminum prices plunge

SAN FRANCISCO (MarketWatch) - Alcoa Inc, on Tuesday reported a first-quarter loss $497 million, or 61 cents a share, vs. a profit of $303 million, or 37 cents a share a year ago. Excluding discontinued operations, Alcoa would have posted a loss of 59 cents a share. Analysts polled by FactSet Research were looking for a loss, on average, of 51 cents a share. A Reuters Estimates survey came up with a target of a 54-cent loss. Sales fell to $4.1 billion from $5.7 billion a year ago. Wall Street had forecast sales of $4.68 billion.