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International Paper on Wednesday reported fourth-quarter earnings of $134 million.
The Memphis, Tennessee-based company said it had profit of 32 cents per share. Earnings, adjusted for non-recurring costs and to account for discontinued operations, came to 53 cents per share.
The results did not meet Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 60 cents per share.
The global paper and packaging company posted revenue of $5.94 billion in the period, beating Street forecasts. Analysts expected $5.87 billion, according to Zacks.
For the year, the company reported profit of $555 million, or $1.29 per share. Revenue was reported as $23.62 billion.
International Paper shares have climbed slightly since the beginning of the year, while the Standard & Poor's 500 index has fallen slightly more than 1 percent. The stock has climbed 18 percent in the last 12 months.
Keywords: International Paper, Earnings Report