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Staples meets 2Q profit forecasts

FRAMINGHAM, Mass. (AP) _ Staples Inc. (SPLS) on Thursday reported fiscal second-quarter net income of $55 million, after reporting a loss in the same period a year earlier.

The Framingham, Massachusetts-based company said it had profit of 8 cents per share. Earnings, adjusted for non-recurring costs and to account for discontinued operations, were 12 cents per share.

The results met Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was also for earnings of 12 cents per share.

The office supply chain posted revenue of $3.91 billion in the period, topping Street forecasts. Three analysts surveyed by Zacks expected $3.85 billion.

Staples shares have increased 12 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed 9 percent. The stock has increased 17 percent in the last 12 months.

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

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Keywords: Staples, Earnings Report