Staples matches 2Q earnings expectations, tops revenue forecasts

MarketsAssociated Press

Staples Inc. on Wednesday reported fiscal second-quarter net income of $81.9 million.

The Framingham, Massachusetts-based company said it had profit of 13 cents per share. Earnings, adjusted for one-time gains and costs, came to 12 cents per share.

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The results met Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was also for earnings of 12 cents per share.

The company posted revenue of $5.22 billion in the period, exceeding Street forecasts. Analysts expected $5.17 billion, according to Zacks.

For the current quarter ending in October, Staples expects its per-share earnings to range from 34 cents to 39 cents.

Staples shares fell 38 cents, or 3.8 percent, to $11.24 in morning trading.