United Parcel Service Inc. (UPS) on Wednesday reported second-quarter profit of $1.49 billion.
On a per-share basis, the Atlanta-based company said it had net income of $1.71. Earnings, adjusted for non-recurring costs, came to $1.94 per share.
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The results beat Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of $1.92 per share.
The package delivery service posted revenue of $17.46 billion in the period, also topping Street forecasts. Eight analysts surveyed by Zacks expected $17.3 billion.
UPS expects full-year earnings in the range of $7.03 to $7.37 per share.
UPS shares have dropped roughly 6 percent since the beginning of the year, while the Standard & Poor’s 500 index has climbed 5.5 percent. The stock has increased slightly in the last 12 months.
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This story was generated by Automated Insights using data from Zacks Investment Research. Access a Zacks stock report on UPS at https://www.zacks.com/ap/UPS
