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International Paper: 4Q Earnings Snapshot

MEMPHIS, Tenn. (AP) _ International Paper Co. (IP) on Thursday reported fourth-quarter net income of $316 million.

The Memphis, Tennessee-based company said it had net income of 78 cents per share. Earnings, adjusted for non-recurring costs, were $1.65 per share.

The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1.61 per share.

The global paper and packaging company posted revenue of $5.95 billion in the period, which also beat Street forecasts. Five analysts surveyed by Zacks expected $5.86 billion.

For the year, the company reported profit of $2.01 billion, or $4.85 per share. Revenue was reported as $23.31 billion.

International Paper shares have increased 17 percent since the beginning of the year, while the Standard & Poor's 500 index has risen almost 7 percent. The stock has declined 26 percent in the last 12 months.


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