Arconic Inc. Q2 Income Retreats, but beats estimates

(RTTNews) - Arconic Inc. (ARNC) released a profit for second quarter that decreased from the same period last year but beat the Street estimates.

The company's earnings totaled $59 million, or $0.58 per share. This compares with $114 million, or $1.05 per share, in last year's second quarter.

Analysts on average had expected the company to earn $0.55 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 22.0% to $1.99 billion from $2.55 billion last year.

Arconic Inc. earnings at a glance (GAAP) :

-Earnings (Q2): $59 Mln. vs. $114 Mln. last year. -EPS (Q2): $0.58 vs. $1.05 last year. -Analyst Estimates: $0.55 -Revenue (Q2): $1.99 Bln vs. $2.55 Bln last year.