UPDATE: Westlake Reports 42% Surge In Q2 Net Profit

Westlake Chemical Corp WLK reported a 42% rise in its second-quarter net profit. Westlake's quarterly net profit rose to $81 million, or $1.21 per share, from $56.9 million, or $0.86 per share, in the year-ago period. Its revenue surged 13% at $925 million. However, analysts were expecting earnings of $1.20 per share on revenue of $919.2 million. Westlake shares dropped 1.40% to $51.93 in after-hours trading.