Staples (SPLS) Profit Climbs 32%

Staples Inc SPLS announced on Thursday morning that it just beat consensus Wall Street estimates. Staples Inc reported that its 1st quarter earnings climbed 32% to $188.8 million, or 26 cents per share, up from $143 million, or 20 cents per share, a year earlier. Excluding special items, the office supply chain earned 28 cents per share. The company's revenue rose 4% to $6.06 billion, up from $5.82 billion a year earlier. According to a survey of analysts by Thomson Reuters, the average Wall Street estimate called for earnings of 27 cents per share. The company said it expects an adjusted 2nd quarter profit of 18 cents to 20 cents per share. Shares of Staples Inc ended the Wednesday trading session at $21.54 per share.