ATLANTA (AP) — ATLANTA (AP) — United Parcel Service Inc. (UPS) on Tuesday reported first-quarter profit of $1.11 billion.
On a per-share basis, the Atlanta-based company said it had profit of $1.30. Earnings, adjusted for non-recurring costs and asset impairment costs, were $1.43 per share.
The results exceeded Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $1.33 per share.
The package delivery service posted revenue of $21.71 billion in the period, which fell short of Street forecasts. Eight analysts surveyed by Zacks expected $21.96 billion.
UPS expects full-year revenue in the range of $92 billion to $94.5 billion.
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