International Paper: Q3 Earnings Snapshot
MEMPHIS, Tenn. (AP) — MEMPHIS, Tenn. (AP) — International Paper Co. (IP) on Thursday reported third-quarter earnings of $165 million.
The Memphis, Tennessee-based company said it had profit of 47 cents per share. Earnings, adjusted for non-recurring costs and to account for discontinued operations, were 64 cents per share.
The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 59 cents per share.
The global paper and packaging company posted revenue of $4.61 billion in the period, which did not meet Street forecasts. Four analysts surveyed by Zacks expected $4.85 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
