UPDATE: International Paper Reports Strong Rise In Q2 Profit

International Paper Co IP reported upbeat second-quarter earnings. International Paper reported its quarterly profit at $224 million, or $0.52 per share, up from $93 million, or $0.21 per share, in the year-ago period. Excluding restructuring and other charges, International Paper's earnings from continuing operations came in at $0.80 per share. Its revenue climbed 8.6% to $6.65 billion. However, analysts were expecting earnings of $0.67 per share on revenue of $6.63 billion. International Paper shares closed at $29.87 yesterday.