PITTSBURGH (AP) _ United States Steel Corp. (X) on Thursday reported second-quarter net income of $68 million.
On a per-share basis, the Pittsburgh-based company said it had net income of 39 cents. Earnings, adjusted for non-recurring costs, came to 45 cents per share.
The results topped Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 40 cents per share.
The steel maker posted revenue of $3.55 billion in the period, also topping Street forecasts. Four analysts surveyed by Zacks expected $3.37 billion.
U.S. Steel shares have declined 20% since the beginning of the year, while the Standard & Poor's 500 index has increased 18%. In the final minutes of trading on Thursday, shares hit $14.52, a drop of 59% in the last 12 months.