Pitney-Bowes Q2 Profit Decreases, misses estimates

(RTTNews) - Pitney-Bowes (PBI) reported earnings for second quarter that decreased from last year and missed the Street estimates.

The company's earnings totaled $4.34 million, or $0.02 per share. This compares with $19.86 million, or $0.11 per share, in last year's second quarter.

Excluding items, Pitney-Bowes reported adjusted earnings of $0.02 per share for the period.

Analysts on average had expected the company to earn $0.04 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 3.1% to $871.50 million from $899.20 million last year.

Pitney-Bowes earnings at a glance (GAAP) :

-Earnings (Q2): $4.34 Mln. vs. $19.86 Mln. last year. -EPS (Q2): $0.02 vs. $0.11 last year. -Analyst Estimates: $0.04 -Revenue (Q2): $871.50 Mln vs. $899.20 Mln last year.