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RadioShack’s Q2 Profit Rises, Matching View (RSH)

Electronics retailer RadioShack Corporation ( RSH

) said Thursday that its second quarter profit rose 8.6% from last year, matching analyst expectations.

The Fort Worth, TX-based compared reported second quarter net income of $53 million, or 41 cents per share, compared with $48.8 million, or 39 cents per share, in the year-ago period.

Meanwhile, net sales gains 4.7% from last year, to $1.01 billion.

On average, Wall Street analysts expected a matching profit of 41 cents per share, on nearly matching revenue of $1.02 billion.

The company also intimated that same-store sales rose 6.7% in the period, driven by rising wireless sales.

RadioShack shares rose 26 cents, or +1.3%, in premarket trading Thursday.

The Bottom Line

The company has a 1.24% dividend yield, based on last night's closing stock price of $20.19. The stock has technical support in the $18 price area. If the shares can firm up, we see overhead resistance around the $22-$23 price levels. We would remain on the sidelines for now.

RadioShack Corporation ( RSH ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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