MEMPHIS, Tenn. (AP) — MEMPHIS, Tenn. (AP) — International Paper Co. (IP) on Wednesday reported second-quarter earnings of $498 million.
The Memphis, Tennessee-based company said it had profit of $1.41 per share. Earnings, adjusted for non-recurring gains, came to 55 cents per share.
The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 40 cents per share.
The global paper and packaging company posted revenue of $4.73 billion in the period, which fell short of Street forecasts. Four analysts surveyed by Zacks expected $4.77 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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