International Paper Announces 8% Retreat In Q1 Profit

(RTTNews) - International Paper (IP) reported a profit for first quarter that lost ground compared to the same period last year.

The company said its earnings dropped to $330 million, or $0.80 per share. This was lower than $357 million, or $0.84 per share, in last year's first quarter.

Analysts had expected the company to earn $0.69 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 7.4% to $5.11 billion. This was down from $5.52 billion last year.

International Paper earnings at a glance:

-Earnings (Q1): $330 Mln. vs. $357 Mln. last year. -Earnings Decline (Y-o-Y): -7.6% -EPS (Q1): $0.80 vs. $0.84 last year. -EPS Decline (Y-o-Y): -4.8% -Analysts Estimate: $0.69 -Revenue (Q1): $5.11 Bln vs. $5.52 Bln last year. -Revenue Change (Y-o-Y): -7.4%