Pitney-Bowes Q1 adjusted earnings Beat Estimates

Pitney-Bowes (PBI) reported earnings for first quarter that declined from last year.

The company's earnings came in at $53.51 million, or $0.28 per share. This compares with $65.13 million, or $0.35 per share, in last year's first quarter.

Excluding items, Pitney-Bowes reported adjusted earnings of $56.20 million or $0.30 per share for the period.

Analysts had expected the company to earn $0.29 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 17.5% to $983.18 million from $836.64 million last year.

Pitney-Bowes earnings at a glance:

-Earnings (Q1): $56.20 Mln. vs. $66.48 Mln. last year.
-EPS (Q1): $0.30 vs. $0.36 last year.
-Analysts Estimate: $0.29
-Revenue (Q1): $983.18 Mln vs. $836.64 Mln last year.

Full year EPS guidance: $1.15 - $1.30

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