United Parcel Service (NYSE:UPS) saw its profit rise in the most recent quarter.
Earnings and Revenue Both EPS and revenues failed to meet Wall Street expectations as The company posted EPS of $1.15 a share and revenues of $13.35 billion. Analysts were expecting EPS of $1.17 a share and revenues of $13.7 billion. The estimates of 20 analysts ranged from profit of $1.09 to profit of $1.21.
For the second quarter, the company reported net income of $1.12 billion, up 2.2% from the year-ago quarter. Revenue climbed 1.2% from $13.19 billion in the same period last year.
Company Fundamental Trends The company's revenue has grown during at least each of the past four quarters on a year-over-year basis.
History Against Expectations The company has now missed estimates in the last two quarters. In the first quarter, it missed expectations by one cent with net income of $1 versus a mean estimate of net income of $1.01 per share.
Official Comment: "Increasing uncertainty in the United States, continuing weakness in Asia exports and the debt crisis in Europe are impacting projections of economic expansion," said Scott Davis, UPS chairman and CEO. "Throughout its history, UPS has maintained its strength in all economic cycles and we are making the adjustments necessary to respond to today's challenging conditions."
Estimates provided by Zacks Investment Research and company fundamentals from Xignite Financials.