UPDATE: Weyerhaeuser Reports 29% Decline In Q2 Profit

Weyerhaeuser Co

reported a 29% drop in its Q2 net profit. Weyerhaeuser 's quarterly net profit dropped to $10 million, or $0.02 per share, from $14 million, or $0.07 per share, in the year-ago period. Excluding special items, Weyerhaeuser's earnings came in at $0.06 per share. Weyerhaeuser's revenue declined to $1.61 billion from $1.64 billion. However, analysts were expecting earnings of $0.09 per share on revenue of $1.75 billion. Weyerhaeuser 's shares gained 1.95% to $20.44 in after-hours trading.