UPS tops Street 1Q forecasts

ATLANTA (AP) — United Parcel Service Inc. is reporting first-quarter net income of $1.16 billion.

On a per-share basis, the Atlanta company said it had profit of $1.32.

The results topped Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $1.30 per share.

The package and delivery service posted revenue of $15.32 billion in the period, which also topped Street forecasts. Seven analysts surveyed by Zacks expected $15.18 billion.

UPS expects full-year earnings in the range of $5.80 to $6.10 per share.

UPS shares have declined 6 percent since the beginning of the year, while the Standard & Poor’s 500 index has increased roughly 7 percent. The stock has increased slightly more than 1 percent in the last 12 months.

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source: https://finance.yahoo.com/news/ups-tops-street-1q-forecasts-115425643.html

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