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Office Depot: 1Q Earnings Snapshot

BOCA RATON, Fla. (AP) _ Office Depot Inc. (ODP) on Wednesday reported first-quarter earnings of $8 million.

On a per-share basis, the Boca Raton, Florida-based company said it had net income of 1 cent. Earnings, adjusted for restructuring costs, came to 7 cents per share.

The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 6 cents per share.

The office supply retailer posted revenue of $2.77 billion in the period.

Office Depot expects full-year revenue in the range of $10.8 billion to $10.9 billion.

The company's shares closed at $2.26. A year ago, they were trading at $2.27.


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