Norsk Hydro Posts Wider-Than-Expected Q2 Loss

Norsk Hydro ASA NHYDY reported a wider-than-expected second-quarter net loss. Norsk Hydro posted a quarterly net loss of NOK1.712 billion, versus a year-ago net profit of NOK1.405 billion. However, analysts were expecting a net loss of NOK1.07 billion. Its earnings before interest and taxes declined to NOK549 million, from NOK1.906 billion, versus analysts' estimates of NOK455.1 million. Norsk Hydro's revenue fell to NOK21.60 billion, from NOK24.73 billion, versus analysts' estimates of NOK22.80 billion. Norsk Hydro shares closed at $4.2040 yesterday.