UPDATE: AK Steel Reports Downbeat Q2 Earnings; Shares Decline In Pre-Market Trading

AK Steel Holding Corp AKS reported downbeat second-quarter earnings. AK Steel reported its quarterly earnings at $33.1 million, or $0.30 per share, up from $26.7 million, or $0.24 per share, in the year-earlier period. Its revenue rose 12% y/y to $1.80 billion. Excluding charges related to state law tax changes, AK Steel's net income came in at $0.32 per share. Analysts were expecting earnings of $0.49 per share on revenue of $1.81 billion. AK Steel shares dropped 6.19% to $14.56 in pre-market trading.