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Demand for speedy delivery powers UPS 2Q

Demand for speedy delivery powers UPS 2Q

ECONOMIC NEWS

Demand for speedy delivery powers UPS 2Q

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UPS is reporting strong quarterly profits and revenue with demand for next day delivery soaring.

The Atlanta package delivery service on Wednesday posted second-quarter net income of $1.69 billion, or $1.94 per share. Earnings, adjusted for non-recurring costs, were $1.96 per share, or 3 cents better than Wall Street had expected, according to a survey by Zacks Investment Research.

Revenue of $18.05 billion also exceeded projections.

Next day air volume jumped more than 30% during the period compared with last year.

UPS Inc. stuck to its full year outlook for per share earnings of $7.45 to $7.75.

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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 https://www.zacks.com/ap/UPS

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