Investing.com - Stora Enso Oyj R reported on Friday second quarter earnings that missed analysts' forecasts and revenue that topped expectations.
Stora Enso Oyj R announced earnings per share of €0.38 on revenue of €3.05B. Analysts polled by Investing.com anticipated EPS of €0.5194 on revenue of €2.97B.
Stora Enso Oyj R shares are down 9% from the beginning of the year and are trading at €14.650 , down-from-52-week-high.They are outperforming the STOXX 600 which is down 12.56% from the start of the year.
Stora Enso Oyj R shares lost 9.98% in intra-day trade the report.
Stora Enso Oyj R follows other major Materials sector earnings this month
Stora Enso Oyj R's report follows an earnings beat by UPM-Kymmene on Thursday, who reported EPS of €0.6 on revenue of €2.56B, compared to forecasts EPS of €0.5638 on revenue of €2.8B.
Stora Enso Oyj A had missed expectations on Friday with second quarter EPS of €0.38 on revenue of €3.05B, compared to forecast for EPS of €0.5194 on revenue of €2.97B.
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