International Paper Q2 Profit Increases, Beats Estimates

(RTTNews) - International Paper (IP) released a profit for its second quarter that increased from the same period last year and beat the Street estimates.

The company's bottom line totaled $498 million, or $1.41 per share. This compares with $235 million, or $0.64 per share, in last year's second quarter.

Excluding items, International Paper reported adjusted earnings of $193 million or $0.55 per share for the period.

Analysts on average had expected the company to earn $0.41 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 1.1% to $4.73 billion from $4.68 billion last year.

International Paper earnings at a glance (GAAP) :

-Earnings (Q2): $498 Mln. vs. $235 Mln. last year. -EPS (Q2): $1.41 vs. $0.64 last year. -Revenue (Q2): $4.73 Bln vs. $4.68 Bln last year.