UPS had another strong quarter with shipments to homes continuing at a brisk pace, although at home revenue was slightly weaker than some expected.
ATLANTA — UPS had another strong quarter with shipments to homes continuing at a brisk pace, although revenue at home, its largest market, was slightly weaker than some expected.
Shares were down about 1% before the opening bell on Tuesday.
Domestic revenue still rose 10.2% to $14.40 billion in the second quarter, with revenue per-piece up 13.4%. However, Wall Street estimated domestic revenue of $14.76 billion. Revenue from international operations rose 30% to $4.82 billion, which was better than analysts’ expectations of $4.57 billion.
For the three months ended June 30, United Parcel Service Inc. earned $2.68 billion, or $3.05 per share. One-time costs aside, earnings were $3.06 per share, easily beating the $2.75 Wall Street is looking for.
A year earlier, the Atlanta company earned $1.77 billion, or $2.03 per share.
Overall revenue was $23.42 billion, better than expected.