Popular Inc.'s (BPOP) second-quarter profit fell 41% as loan loss provisions declined and the Puerto Rican bank faced a tough comparison with a year-earlier period buoyed by a tax benefit. Popular has lately made progress in healing its portfolio of bad loans, but continues to face difficulties as Puerto Rico struggles to recover from a long recession. At the end of April, Popular's shareholders approved a one-for-10 reverse stock split in an effort to boost its stock price, which had encountered difficulty staying above $2 a share since August. Popular reported a profit of $65.7 million, compared with a year-earlier profit of $110.7 million that included a $59.6 million tax benefit. Per-share earnings, which reflect the payment of preferred dividends, came in at 63 cents versus $1.07 a year earlier. Revenue, as a combination of net interest income and noninterest income, decreased 13% to $434.9 million. Analysts polled by Thomson Reuters expected earnings of 41 cents a share on revenue of $447 million. Loan loss provisions fell to $119.2 million from $144.3 million a year earlier. Shares closed at $16.30 Tuesday and were inactive premarket. Through Tuesday's close the stock is up 37% so far this year.