International Paper quarterly profit drops 49 percent
(Reuters) - International Paper Co (IP.N) reported a 49 percent drop in third-quarter net earnings on Thursday, due in part to a decline in consumer packaging sales.
The company posted net earnings of $237 million, or 54 cents per share, compared with $468 million, or $1.08 per share, a year earlier.
Net sales rose 6 percent to $7 billion.
(Reporting by Ernest Scheyder; Editing by Lisa Von Ahn)
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