Office Depot meets 3Q profit forecasts

Markets Associated Press

Office Depot Inc. (ODP) on Thursday reported third-quarter net income of $92 million.

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On a per-share basis, the Boca Raton, Florida-based company said it had profit of 17 cents. Earnings, adjusted for one-time gains and costs, came to 14 cents per share.

The results met Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was also for earnings of 14 cents per share.

The office supply retailer posted revenue of $2.62 billion in the period, beating Street forecasts. Three analysts surveyed by Zacks expected $2.61 billion.

The company's shares closed at $3.01. A year ago, they were trading at $3.65.

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This story was generated by Automated Insights using data from Zacks Investment Research. Access a Zacks stock report on ODP at https://www.zacks.com/ap/ODP