Why Office Depot Stock Popped Today
Shares of Office Depot (NASDAQ: ODP) were up 14.4% as of 3:15 p.m. EST Wednesday after the office supply retailer announced better-than-expected third-quarter earnings.
Sales declined 3.6% year over year to $2.78 billion, translating into adjusted net income of $84 million, or $0.15 per share (up from $0.13 per share a year ago). These results were technically mixed relative to consensus estimates; most analysts were modeling lower adjusted earnings of $0.13 per share, but on higher sales of $2.83 billion.
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Source Fool.com
