International Paper: Q3 Earnings Snapshot

Audio By Carbonatix

MEMPHIS, Tenn. (AP) — MEMPHIS, Tenn. (AP) — International Paper Co. (IP) on Thursday reported third-quarter earnings of $150 million.

The Memphis, Tennessee-based company said it had net income of 42 cents per share. Earnings, adjusted for non-recurring costs, came to 44 cents per share.

The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 24 cents per share.

The global paper and packaging company posted revenue of $4.69 billion in the period, also surpassing Street forecasts. Four analysts surveyed by Zacks expected $4.67 billion.

_____

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