R.R. Donnelley & Sons Co. (NASDAQ:RRD) shot into the green more than 4% Wednesday after reporting stronger-than expected second quarter earnings, driven by increased volume that offset price pressures.
The communications provider reported net earnings of $88.8 million, or 42 cents a share, compared with $25.2 million, or 12 cents a share, in the same quarter last year.
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Excluding special items the company reported earnings of 47 cents a share, ahead of average analyst estimates of 36 cents.
Revenue for the Chicago-based company was $2.4 billion, virtually flat from the earlier-year period, and beating the Street’s view of $2.36 billion.
Sales in its print and international segments were boosted by higher demand and increased volume, which offset continued price pressures and a reduction in paper sales.
“Our customers continue to realize the benefits that our breadth of product and service offerings brings to them,” R.R. Donnelley CEO Thomas J. Quinlan III said. “This is reflected in our strong second-quarter results, as well as in the many long-term customer contracts we have been awarded already this year.”
He went on to note that the company’s “unique platform” positions it well for positive growth through the rest of the year.