Pitney Bowes Q3 Profit Falls 56%, Missing Expectations (PBI)

Office services provider Pitney Bowes Inc.(PBI) reported a decline in earnings for its third quarter, missing analysts expectations Friday.

The Stamford, CT based company reported earnings of $76.5 million, or 38 cents a share, a 55.7% decline from last year’s earnings of $172.8 million, or 85 cents a share. Adjusted earnings were 47 cents a share, missing analysts estimates of 48 cents.

Revenue for the quarter was $1.22 billion, a 5% decline from $1.30 billion last year. Analysts expected higher revenue of $1.29 billion for the quarter.

Looking ahead, the company is expecting earnings for the full year in the range of $1.95 to $2.15 a share.

Pitney Bowes shares were down 14 cents, or -1%, during premarket trading Friday.

Pitney Bowes Inc.(PBI) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.0 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

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