Teekay Corporation Q2 Earnings Fall 96%

(RTTNews) - Teekay Corporation (TK) released a profit for second quarter that retreated from last year.

The company said its bottom line totaled $0.70 million, or $0.01 per share. This was lower than $19.71 million, or $0.27 per share, in last year's second quarter.

Analysts had expected the company to earn -$0.06 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 0.9% to $587.62 million. This was down from $592.80 million last year.

Teekay Corporation earnings at a glance:

-Earnings (Q2): $0.70 Mln. vs. $19.71 Mln. last year. -Earnings Decline (Y-o-Y): -96.4% -EPS (Q2): $0.01 vs. $0.27 last year. -EPS Decline (Y-o-Y): -96.3% -Analysts Estimate: -$0.06 -Revenue (Q2): $587.62 Mln vs. $592.80 Mln last year. -Revenue Change (Y-o-Y): -0.9%