Amid struggles Office Depot considers European exit

Office Depot turned a profit in the second quarter but still plans on selling its international unit, which continues to struggle.

In earnings released Wednesday morning the office supply giant announced a second quarter net income of $210 million on $3.218 billion in total sales. Both numbers beat Wall Street's expectations of $3.208 billion in revenue and $70 million in net income, according to analysts polled by S&P Global Capital Intelligence.

ODP stock was soaring 6.2% in afternoon trading Wednesday.

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While sales were down from the $3.44 billion the company did last year, the company turned a profit as it begun to rebuild itself after its merger with Staples was blocked by a federal judge in May. Last year the company lost $58 million in the second quarter.

It wasn't all good news for Office Depot, however. The company's international business continued to struggle producing an operating loss of $10 million. Office Depot announced in May that it was looking to sell its European business. It reaffirmed the position in today's earnings release, stating it "has a process underway" to figure out a sale of the European division.

Office Depot isn't the only U.S. office chain to consider an exit from Europe. Last month Staples said it too was considering shuttering its European operations, particularly those in the U.K..

Report: Staples considering U.K. exit

Follow Eli Blumenthal on Twitter @eliblumenthal