Office Depot: 2Q Earnings Snapshot
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.