BOCA RATON, Fla. — 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.
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.
Keywords: Office Depot, Earnings Report