UPS tops 2Q profit forecasts
ATLANTA (AP) — United Parcel Service Inc. (UPS) on Tuesday reported second-quarter earnings of $1.23 billion.
On a per-share basis, the Atlanta-based company said it had profit of $1.35.
The results topped Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of $1.26 per share.
The package and delivery service posted revenue of $14.1 billion in the period, falling short of Street forecasts. Six analysts surveyed by Zacks expected $14.49 billion.
UPS expects full-year earnings to be $5.05 to $5.30 per share.
UPS shares have decreased 14 percent since the beginning of the year, while the Standard & Poor's 500 index has stayed nearly flat. The stock has dropped 8 percent in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap ) using data from Zacks Investment Research. Access a Zacks stock report on UPS at http://www.zacks.com/ap/UPS
Keywords: United Parcel Service, Earnings Report, Priority Earnings