MEMPHIS, Tenn. (AP) — MEMPHIS, Tenn. (AP) — International Paper Co. (IP) on Thursday reported second-quarter earnings of $235 million.
The Memphis, Tennessee-based company said it had net income of 68 cents per share. Earnings, adjusted for non-recurring gains and to account for discontinued operations, came to 59 cents per share.
The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 42 cents per share.
The global paper and packaging company posted revenue of $4.68 billion in the period, which fell short of Street forecasts. Five analysts surveyed by Zacks expected $4.94 billion.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on IP at https://www.zacks.com/ap/IP
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