Pitney Bowes Inc. posted sharply lower net income but adjusted earnings beat Wall Street estimates, and the stock surged. The company earned $110.3 million, or 55 cents per share, for the last three months of 2012, down 57 percent from $257.5 million, or $1.28 per share, a year earlier — results that included a big tax gain. Adjusted earnings were 56 cents per share; analysts expected 51 cents.
Pitney Bowes surges despite profit drop
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