MEMPHIS, Tenn. (AP) — MEMPHIS, Tenn. (AP) — International Paper Co. (IP) on Thursday reported second-quarter earnings of $75 million.
The Memphis, Tennessee-based company said it had profit of 14 cents per share. Earnings, adjusted for non-recurring costs, came to 20 cents per share.
The results did not meet Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 38 cents per share.
The global paper and packaging company posted revenue of $6.77 billion in the period, matching Street forecasts.
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