Pitney Bowes Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 02, 2023 at 11:00 am
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Pitney Bowes Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was USD 16.94 million compared to USD 16.13 million a year ago. Revenue was USD 783.75 million compared to USD 830.91 million a year ago. Net loss was USD 12.52 million compared to net income of USD 5.49 million a year ago. Basic loss per share from continuing operations was USD 0.07 compared to basic earnings per share from continuing operations of USD 0.03 a year ago. Diluted loss per share from continuing operations was USD 0.07 compared to diluted earnings per share from continuing operations of USD 0.03 a year ago.
For the nine months, sales was USD 51.22 million compared to USD 49.81 million a year ago. Revenue was USD 2,394.77 million compared to USD 2,629.35 million a year ago. Net loss was USD 161.79 million compared to net income of USD 30.64 million a year ago. Basic loss per share from continuing operations was USD 0.92 compared to basic earnings per share from continuing operations of USD 0.18 a year ago. Diluted loss per share from continuing operations was USD 0.92 compared to diluted earnings per share from continuing operations of USD 0.17 a year ago.
Pitney Bowes Inc. is a shipping and mailing company. The Company provides technology, logistics, and financial services to small and medium sized businesses, large enterprises, retailers, and government clients. Its segments include Global Ecommerce, Presort Services and SendTech Solutions. The Global Ecommerce segment offers domestic parcel services, cross-border solutions, and digital delivery services. Its domestic parcel services offer retailers a parcel delivery and returns network for end consumers. The Presort Services segment offers national outsource provider of mail sortation services that allow clients to qualify large volumes of first-class mail, marketing mail and marketing mail flats and bound printed matter for postal workshare discounts. Its SendTech Solutions segment offer clients with physical and digital mailing and shipping technology solutions and other applications to help simplify and save on the sending, tracking, and receiving of letters, parcels, and flats.