DALLAS (AP) — Alcoa Inc. lost $178 million in the first quarter as revenue fell on lower aluminum prices, but profit beat expectations after excluding charges to idle capacity at aluminum smelters and mills.

The company said the price it was paid for aluminum dropped 8 percent from a year ago. The weak commodity prices are driving Alcoa to shift away from smelting. It is closing a smelter in New York state and another in Australia and cutting capacity at others in Brazil.