According to the latest report, the US steel company released a financial report on Tuesday that the second quarter net profit fell by more than half, the global economic growth slowdown caused damage to the demand of multiple core markets, but the performance is still better than market expectations. US Steel said net profit for the second quarter fell to $101 million, or 62 cents per share, from $222 million, or $1.33 per share, in the second quarter, still higher than the average estimate of analysts surveyed by FactSet. Cents. Revenue fell 2% to $5.02 billion, slightly higher than analysts' average estimate of $5 billion. US Steel said that price increases and falling raw material and energy costs have helped boost performance, although the economic environment remains challenging, especially in Europe. The company expects third-quarter results to be lower than the second quarter, but each sector will achieve operational profitability.
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