International Paper Q3 Profit Advances, Beats estimates

(RTTNews) - International Paper (IP) released earnings for its third quarter that increased from the same period last year and beat the Street estimates.

The company's bottom line came in at $951 million, or $2.64 per share. This compares with $864 million, or $2.20 per share, in last year's third quarter.

Analysts on average had expected the company to earn $1.21 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 9.9% to $5.402 billion from $4.914 billion last year.

International Paper earnings at a glance (GAAP) :

-Earnings (Q3): $951 Mln. vs. $864 Mln. last year. -EPS (Q3): $2.64 vs. $2.20 last year. -Analyst Estimate: $1.21 -Revenue (Q3): $5.402 Bln vs. $4.914 Bln last year.