United Parcel Service, Inc. (NYSE:UPS) stock was up on Thursday after the company reported a revenue beat for the first quarter of the year.
During the first quarter of 2018, United Parcel Service, Inc. reported revenue of $17.11 billion. This is an increase over its revenue of $15.51 billion that was reported in the same period of the year prior. It was also good news for UPS stock by coming in above Wall Street’s revenue estimate of $16.44 billion for the quarter.
United Parcel Service, Inc. also reported earnings per share of $1.55 for the first quarter of the year. The delivery company’s earnings per share from the first quarter of 2017 was $1.33. UPS’ earnings per share for the first quarter of 2018 matched what analysts were expecting from it for the period.
Net income reported by United Parcel Service, Inc. for the first quarter of the year was $1.35 billion. This is up from the $1.17 billion that was reported in the same quarter of the previous year.
United Parcel Service, Inc.’s operating profit for the first quarter of 2018 came in at $1.52 billion. This is better than the company’s operating profit of $1.62 billion that was reported for the same time last year.
United Parcel Service, Inc. also announced its outlook for the full year of 2018 in its most recent earnings report. UPS says that it is expecting earnings per share for the period to range from $7.03 to $7.37. Wall Street is looking for earnings per share of $7.24 from the company in 2018.
UPS stock was up 3% as of noon Thursday.
As of this writing, William White did not hold a position in any of the aforementioned securities.
