International Paper Q3 Profit Decreases, But Beats Estimates

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

The company's bottom line totaled $150 million, or $0.42 per share. This compares with $165 million, or $0.47 per share, in last year's third quarter.

Excluding items, International Paper reported adjusted earnings of $153 million or $0.44 per share for the period.

Analysts on average had expected the company to earn $0.26 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 1.6% to $4.686 billion from $4.613 billion last year.

International Paper earnings at a glance (GAAP) :

-Earnings (Q3): $150 Mln. vs. $165 Mln. last year. -EPS (Q3): $0.42 vs. $0.47 last year. -Revenue (Q3): $4.686 Bln vs. $4.613 Bln last year.