International Paper Q2 Earnings Fall 29%

(RTTNews) - International Paper (IP) released a profit for second quarter that decreased from last year.

The company said its bottom line totaled $270 million, or $0.65 per share. This was lower than $379 million, or $0.92 per share, in last year's second quarter.

Analysts had expected the company to earn $0.65 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter rose 8.5% to $5.77 billion. This was up from $5.32 billion last year.

International Paper earnings at a glance:

-Earnings (Q2): $270 Mln. vs. $379 Mln. last year. -Earnings Decline (Y-o-Y): -28.8% -EPS (Q2): $0.65 vs. $0.92 last year. -EPS Decline (Y-o-Y): -29.3% -Analysts Estimate: $0.65 -Revenue (Q2): $5.77 Bln vs. $5.32 Bln last year. -Revenue Change (Y-o-Y): 8.5%