Office Depot misses Street 2Q forecasts

MarketsAssociated Press

Office Depot Inc. (ODP) on Wednesday reported second-quarter profit of $24 million.

On a per-share basis, the Boca Raton, Florida-based company said it had profit of 5 cents. Earnings, adjusted for one-time gains and costs, were 6 cents per share.

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

The office supply retailer posted revenue of $2.36 billion in the period, which also fell short of Street forecasts. Three analysts surveyed by Zacks expected $2.46 billion.

Office Depot shares have risen 35 percent since the beginning of the year. The stock has risen 71 percent in the last 12 months.


This story was generated by Automated Insights using data from Zacks Investment Research. Access a Zacks stock report on ODP at


Keywords: Office Depot, Earnings Report