FX.co ★ Teekay Corporation Q2 Income Drops

Teekay Corporation (TK) reported a decline in its second-quarter profit compared to the same period last year. The company's net income stood at $33.82 million, equating to $0.35 per share, down from $40.34 million, or $0.41 per share, in the second quarter of the previous year.

On an adjusted basis, excluding specific items, Teekay Corporation posted earnings of $33.17 million, or $0.36 per share, for the period.

Revenue for the quarter saw a 17.5% drop, reaching $326.14 million, compared to $395.40 million in the prior year.

Teekay Corporation's key earnings figures (GAAP) for the second quarter are as follows:

- Net Income: $33.82 million compared to $40.34 million last year

- Earnings Per Share (EPS): $0.35 compared to $0.41 last year

- Revenue: $326.14 million compared to $395.40 million last year