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Unofficially kicking off US reporting season dual listed Alcoa Inc (ASX:AAI, NYSE:AA) has beaten earnings expectations.The aluminium giant says its surge in third quarter profits come as its repositioning continues accelerating.Alcoa posted earnings per share of $US0.31, excluding certain items, on revenue of $US6.2 billion.Chairman and CEO Klaus Kleinfeld says the quarter is a clear data point that Alcoa’s transformation is delivering.Looking ahead the company has confirmed it expects global aluminium demand to grow 7 per cent this year.Alcoa reported a net loss of $72.18 million in the first half of the 2014 calendar year.
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