Corrections Corporation Of America Profit Drops 7% In Q2

(RTTNews) - Corrections Corporation Of America (CXW) announced earnings for second quarter that decreased compared to the same period last year.

The company said its profit dropped to $81.29 million, or $0.69 per share. This was down from $87.48 million, or $0.74 per share, in last year's second quarter.

Analysts had expected the company to earn $0.65 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter rose 0.9% to $463.33 million. This was up from $459.30 million last year.

Corrections Corporation Of America earnings at a glance:

-Earnings (Q2): $81.29 Mln. vs. $87.48 Mln. last year. -Earnings Decline (Y-o-Y): -7.1% -EPS (Q2): $0.69 vs. $0.74 last year. -EPS Decline (Y-o-Y): -6.8% -Analysts Estimate: $0.65 -Revenue (Q2): $463.33 Mln vs. $459.30 Mln last year. -Revenue Change (Y-o-Y): 0.9%

-Guidance: Next quarter EPS guidance: $0.67 to $0.68 Full year EPS guidance: $2.64 to $2.68