WASHINGTON (dpa-AFX) - Pitney-Bowes (PBI) revealed a profit for first quarter that decreased compared to the same period last year.
The company said its profit dropped to $69.44 million, or $0.34 per share. This was lower than $85.00 million, or $0.40 per share, in last year's first quarter.
Analysts had expected the company to earn $0.40 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company said revenue for the quarter fell 5.2% to $844.59 million. This was down from $890.68 million last year.
Pitney-Bowes earnings at a glance:
-Earnings (Q1): $69.44 Mln. vs. $85.00 Mln. last year. -Earnings Decline (Y-o-Y): -18.3% -EPS (Q1): $0.34 vs. $0.40 last year. -EPS Decline (Y-o-Y): -15.0% -Analysts Estimate: $0.40 -Revenue (Q1): $844.59 Mln vs. $890.68 Mln last year. -Revenue Change (Y-o-Y): -5.2%
-Guidance: Full year EPS guidance: $1.80 - $2.00
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