Office Depot (NASDAQ:ODP) reported on Wednesday first quarter earnings that beat analysts' forecasts and revenue that topped expectations.
Office Depot announced earnings per share of $0.12 on revenue of $2.73B. Analysts polled by anticipated EPS of $0.07 on revenue of $2.67B. That with comparison to EPS of $0.07 on revenue of $2.77B in the same period a year before. Office Depot had reported EPS of $0.12 on revenue of $2.51B in the previous quarter. Analysts are expecting EPS of $0.06 and revenue of $2.51B in the upcoming quarter.
Office Depot shares are down 32% from the beginning of the year , still down 34.16% from its 52 week high of $2.81 set on December 31, 2019. They are under-performing the Nasdaq which is down 2.55% year to date.
Office Depot follows other major Services sector earnings this month
Office Depot's report follows an earnings missed by Amazon.com on April 30, who reported EPS of $5.01 on revenue of $75.45B, compared to forecasts EPS of $6.16 on revenue of $73.74B.
Visa A had beat expectations on April 30 with second quarter EPS of $1.39 on revenue of $5.85B, compared to forecast for EPS of $1.34 on revenue of $5.72B.
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