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The ODP Corporation Reports Quarterly Loss of $(4) Million
By USinMinutes - Aug 07, 2024, 06:51 AM ET
Last Updated - Aug 08, 2024, 05:56 PM EDT
ODP Corporation's Q2 Revenue Declines by 10%, Operating Income Drops to $0.4 Million
The ODP Corporation [ODP], a leading provider of products and services, announced a net loss of $(4) million for the second quarter ended June 29, 2024. This performance represents a decrease from the net income of $43 million reported in the previous quarter.
The ODP Corporation, a key player in the Consumer Services sector, reported revenue of $1.7 billion, reflecting a 10% decrease compared to the previous quarter's revenue of $1.9 billion.
In comparison to the same quarter in the previous year, The ODP Corporation's revenue of $1.7 billion for the current quarter reflects an 11% decrease from the revenue reported in the corresponding quarter last year.
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Additionally, the net loss of $(4) million in the current quarter represents a decline of $(47) million, or a percentage change of -92%, compared to the net income of $43 million in the same quarter of the previous year.
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