ATLANTA (AP) _ United Parcel Service Inc. (UPS) on Thursday reported first-quarter profit of $1.11 billion.
The Atlanta-based company said it had profit of $1.28 per share. Earnings, adjusted for non-recurring costs, came to $1.39 per share.
The results did not meet Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $1.42 per share.
The package delivery service posted revenue of $17.16 billion in the period, which also missed Street forecasts. Seven analysts surveyed by Zacks expected $17.79 billion.
UPS expects full-year earnings in the range of $7.45 to $7.75 per share.
UPS shares have increased 17 per cent since the beginning of the year, while the Standard & Poor’s 500 index has climbed 17 per cent. The stock has risen roughly 6 per cent in the last 12 months.
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
The Associated Press