Investing.com - Stora Enso (OTC:SEOAY) Oyj R reported on Tuesday second quarter earnings that beat analysts' forecasts and revenue that fell short of expectations.
Stora Enso Oyj R announced earnings per share of €0.14 on revenue of €2.11B. Analysts polled by Investing.com anticipated EPS of €0.1 on revenue of €2.14B.
Stora Enso Oyj R shares are down 13% from the beginning of the year , still down 14.86% from its 52 week high of €13.15 set on January 2. They are under-performing the OMX Helsinki 25 which is down 1.69% from the start of the year.
Stora Enso Oyj R shares gained 2.47% in intra-day trade following the report.
Stora Enso Oyj R follows other major Basic Materials sector earnings this month
Stora Enso Oyj R's report follows an earnings beat by Kemira Oyj on Friday, who reported EPS of €0.23 on revenue of €583M, compared to forecasts EPS of €0.18 on revenue of €615M.
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