News

UPS meets 2Q profit forecasts

ATLANTA – United Parcel Service Inc. (UPS) on Friday reported second-quarter profit of $1.27 billion.

On a per-share basis, the Atlanta-based company said it had profit of $1.43.

The results met Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was also for earnings of $1.43 per share.

The package and delivery service posted revenue of $14.63 billion in the period, exceeding Street forecasts. Six analysts surveyed by Zacks expected $14.6 billion.

UPS expects full-year earnings to be $5.70 to $5.90 per share.

UPS shares have risen 13 per cent since the beginning of the year, while the Standard & Poor’s 500 index has risen 6 per cent. The stock has risen roughly 9 per cent in the last 12 months.

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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

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Keywords: United Parcel Service, Earnings Report, Priority Earnings