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Office Depot Inc. Q1 adjusted earnings Beat Estimates

Office Depot Inc. (ODP) reported earnings for its first quarter that advanced from the same period last year.

The company's earnings came in at $45 million, or $0.08 per share. This compares with $8 million, or $0.01 per share, in last year's first quarter.

Excluding items, Office Depot Inc. reported adjusted earnings of $66 million or $0.12 per share for the period.

Analysts had expected the company to earn $0.07 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 1.4% to $2.73 billion from $2.77 billion last year.

Office Depot Inc. earnings at a glance:

-Earnings (Q1): $66 Mln. vs. $39 Mln. last year.
-EPS (Q1): $0.12 vs. $0.07 last year.
-Analysts Estimate: $0.07
-Revenue (Q1): $2.73 Bln vs. $2.77 Bln last year.

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