Conan O'Brien's second 'Tonight' drops 30%

Conan O'Brien's second "Tonight Show" dropped 30% from Monday's record-setting premiere.

The late-night host's Tuesday episode received a 5.0 household rating and 12 share. That's down sharply compared to Monday's 7.1/17 debut.

Still, Jay Leno's average for the second quarter while hosting "Tonight" was only a 3.9 rating -- so O'Brien still performed 22% higher than Leno's recent average. O'Brien also handily beat CBS' "Late Show" (3.0).

And as always, keep in mind hosting a late night show is a marathon, not a sprint, and certainly not a one-night step. It will be weeks/months before one has a fair idea how "Tonight" audiences are adjusting to the new host.