Office Depot beats 3Q net income expectations, meets revenue forecasts

BOCA RATON, Fla. (AP) — Office Depot Inc. (ODP) on Tuesday reported profit of $29 million in its third quarter.

The Boca Raton, Florida-based company said it had profit of 5 cents per share. Earnings, adjusted for non-recurring costs, were 10 cents per share.

The results exceeded Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 9 cents per share.

The office supply retailer posted revenue of $4.07 billion in the period, meeting Street forecasts.

Office Depot shares have fallen 4 percent since the beginning of the year. The stock has decreased 12 percent in the last 12 months.


This story was generated by Automated Insights using data from Zacks Investment Research. ODP stock research report from Zacks.


Keywords:Office Depot,Earnings Report