International Paper Q2 adjusted earnings Beat Estimates

(RTTNews) - International Paper (IP) reported earnings for second quarter that dropped from last year.

The company's profit totaled $292 million, or $0.73 per share. This compares with $405 million, or $0.97 per share, in last year's second quarter.

Excluding items, International Paper reported adjusted earnings of $460 million or $1.15 per share for the period.

Analysts had expected the company to earn $0.99 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 2.7% to $5.67 billion from $5.83 billion last year.

International Paper earnings at a glance:

-Earnings (Q2): $460 Mln. vs. $498 Mln. last year. -EPS (Q2): $1.15 vs. $1.19 last year. -Analysts Estimate: $0.99 -Revenue (Q2): $5.67 Bln vs. $5.83 Bln last year.