UPDATE 1-Teekay Corp adjusted Q2 loss narrower-than-expected

* Q2 adj loss $0.30/shr vs est shr loss of $0.72

* Rev falls 24 pct, beats Street view

* Shares up 2 pct in pre-market trade

Sept 3 (Reuters) - Teekay Corp (TK.N) reported a narrower-than-expected adjusted quarterly loss, helped by its portfolio of stable, fixed-rate businesses, and said it would continue to reduce its exposure to weak spot tanker markets.

The company, whose tanker ships transport crude oil and other petroleum products, said it had reduced spot exposure since the end of the first quarter through the redelivery of 12 spot traded in-charter vessels and the sale of four spot traded conventional tankers.

For the latest second quarter, the company earned $159.4 million, or $2.19 a share, compared with net income of $183.4 million, or $2.50 a share, last year.

On an adjusted basis, Teekay reported a net loss of 30 cents a share, compared with adjusted net income of $1.05 a share, a year ago. Net revenue fell 24 percent to $469.5 million.

Analysts on average were looking for a loss of 72 cents a share, before items, on revenue of $463.9 million, according to Reuters Estimates.

Shares of the company were up 32 cents at $18 in pre-market trade Thursday. The stock had closed at $17.68 Wednesday on the New York Stock Exchange. (Reporting by Adveith Nair in Bangalore; Editing by Jarshad Kakkrakandy)