AP NEWS

Office Depot: 2Q Earnings Snapshot

August 7, 2018

BOCA RATON, Fla. (AP) _ Office Depot Inc. (ODP) on Tuesday reported second-quarter profit of $16 million.

The Boca Raton, Florida-based company said it had profit of 3 cents per share. Earnings, adjusted for non-recurring costs and to account for discontinued operations, came to 5 cents per share.

The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 4 cents per share.

The office supply retailer posted revenue of $2.63 billion in the period.

Office Depot expects full-year revenue of $10.8 billion.

The company’s shares closed at $2.52. A year ago, they were trading at $5.94.

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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 ODP at https://www.zacks.com/ap/ODP

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