Aluminum producer Alcoa Inc. said its second-quarter earnings fell nearly 24 percent as higher prices failed to offset raw material and facility outage costs.

The Pittsburgh-based company earned $546 million, or 66 cents per share, for the quarter that ended June 30, compared with $715 million, or 81 cents per share, during the same period a year earlier.

Quarterly revenue dropped about 6 percent to $7.6 billion.

Results beat Wall Street estimates. Analysts, on average, expected profit of 64 cents per share on revenue of $7.36 billion.

Shares of Alcoa rose $1.92, or more than 6 percent to $33.32 in after-hours trading following the earnings announcement. During the regular session Tuesday, they fell $1.06, or 3.2 percent, to close at $32.33 in heavy trading.