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Office Depot misses 3Q earnings and revenue expectations


BOCA RATON, Florida — Office Depot Inc. (ODP) on Tuesday reported third-quarter net income of $6 million.

The Boca Raton, Florida-based company said it had profit of 1 cent per share. Earnings, adjusted for non-recurring costs, were 16 cents per share.

The results missed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 17 cents per share.

The office supply retailer posted revenue of $3.69 billion in the period, also falling short of Street forecasts. Five analysts surveyed by Zacks expected $3.75 billion.

Office Depot shares have declined 13 percent since the beginning of the year. The stock has risen 43 percent in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ODP at http://www.zacks.com/ap/ODP


Keywords: Office Depot, Earnings Report

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