UPS: 1Q Earnings Snapshot

ATLANTA — United Parcel Service Inc. is reporting first-quarter earnings of $1.35 billion.

The Atlanta company said it had net income of $1.55 per share.

The results surpassed Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of $1.54 per share.

The package delivery service posted revenue of $17.11 billion in the period, also exceeding Street forecasts. Eight analysts surveyed by Zacks expected $16.44 billion.

UPS expects full-year earnings in the range of $7.03 to $7.37 per share.

UPS shares have declined nearly 9 per cent since the beginning of the year, while the Standard & Poor’s 500 index has dropped slightly more than 1 per cent. The stock has climbed 1 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 https://www.zacks.com/ap/UPS