International Paper Reveals 7% Fall In Q2 Earnings

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

The company said its profit declined to $379 million, or $0.92 per share. This was lower than $409 million, or $0.97 per share, in last year's second quarter.

Analysts had expected the company to earn $0.84 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 6.8% to $5.32 billion. This was down from $5.71 billion last year.

International Paper earnings at a glance:

-Earnings (Q2): $379 Mln. vs. $409 Mln. last year. -Earnings Decline (Y-o-Y): -7.3% -EPS (Q2): $0.92 vs. $0.97 last year. -EPS Decline (Y-o-Y): -5.2% -Analysts Estimate: $0.84 -Revenue (Q2): $5.32 Bln vs. $5.71 Bln last year. -Revenue Change (Y-o-Y): -6.8%